China Caixin Manufacturing PMI comes in at 51.6 in February (prior 49.2)

The official PMIs jumped a lot more:

• China Caixin Manufacturing PMI comes in at 51.6 in February (prior 49.2)

Caixin PMI Manufacturing for February 51.6, first expansion since August 2022

• previous was 49.2

The loosening of COVID curbs alongside economic stimulus having a positive impact.

-

I've posted on the difference between the official and private survey PMIs before, so this is a repeat, but ICYMi:

• The official PMI and Caixin PMI are different surveys, of different firms, with different characteristics, so they often have diverging results.
• In brief, the Caixin/Markit surveys smaller firms than does the official survey from China's National Bureau of Statistics/China Logistics Information Center.

-

eur EUR The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value Read this Term