Macro Monday 44 (Chart B) - China Manufacturing Caixin PMI PLEASE REVIEW Macro Monday 44 for the full post. This chart is presented here so that we can update it at a later date only. It is also included in the prior post
China Manufacturing Caixin PMI – Surveys by 650 SME’s
▫️ The is an S&P Global report released monthly.
▫️ The Caixin PMI focuses on small & medium sized enterprises (SME’s) in China.
▫️ Surveys a smaller sample size of 650 private and state owned manufacturers.
▫️ Recently increased from 50.9 in Feb 2024 to 51.1 in Mar 2024 (>50 = Expansionary)
N.B: The China Services Caixin PMI will be released Monday 6th May which when combined with the China Manufacturing Caixin PMI will form the all encompassing China Caixin Composite PMI. We will cover the China Services and Composite PMI next week on Monday 6th May 2024.
▫️ The China Manufacturing Caixin PMI for smaller SME’s has demonstrated a series of higher lows since February 2020 demonstrating a strong recovery out of the COVID-19 pandemic.
▫️ Momentarily reaching all time highs of 54.9 Nov 2020, thereafter falling significantly to 46 in April 2022, since then the Manufacturing Caixin has pressed into expansionary territory of 51.1 (March 2024).
▫️ This was the fifth straight month of growth in factory activity and the fastest pace since February 2023, boosted by higher new orders from domestic and abroad, with foreign sales rising the most in a year while output climbed the most since last May.
🚨 Next release for April is released this Tuesday 30thApril 2024.
