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.

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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.

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