China data dump beats expectations
China November official manufacturing PMI at 52.1 (Reuters poll 51.5) vs 51.4 in October -
Reuters news
China Nov. official composite PMI at 55.7 - Reuters news
China November official services PMI rises to 56.4 vs October 56.2 - Reuters news
Description of the official non-manufacturing PMI
The official non-manufacturing PMI, released by China Federation of Logistics and Purchasing (CFLP), is based on a survey of about 1,200 companies covering 27 industries including construction, transport and telecommunications. It's the level of a diffusion index based on surveyed purchasing managers in the services industry and if it's above 50.0 indicates industry expansion, below indicates contraction.
The official non-manufacturing PMI, released by China Federation of Logistics and Purchasing (CFLP), is based on a survey of about 1,200 companies covering 27 industries including construction, transport and telecommunications. It's the level of a diffusion index based on surveyed purchasing managers in the services industry and if it's above 50.0 indicates industry expansion, below indicates contraction.
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