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People's Daily Online>>China Business

China to release more detailed PMI data

By Lu Yanan (People's Daily)

15:15, February 02, 2012

Edited and translated by People's Daily Online

China will release a more detailed Purchasing Managers' Index (PMI), a major indicator of economic activity, for different industries and regions step by step, and expand the sample size for compiling the index, in order to meet growing social needs, the Services Survey Center under the National Bureau of Statistics and China Federation of Logistics and Purchasing (CFLP) jointly made the announcement on Feb. 1.

The PMI is an internationally accepted indicator for macro-economic surveillance, and plays an important role in guiding and foretelling economic activity. At present, China only releases the PMI for the manufacturing sector and non-manufacturing sector, based on surveys of 820 companies and 1,200 companies respectively.

Meng Qingxin, director of the Services Survey Center, said that China will release more detailed PMI data for more industries and regions, in order to reflect changes in various industries more accurately. Furthermore, the sample size will also be expanded to improve survey accuracy and to produce more accurate PMI sub-indices of orders and inventory.

Cai Jin, deputy director of the CFLP, said that improving the PMI will be a long process. The country will first release separate PMI data for the construction industry and services industry in the non-manufacturing sector, and expand the coverage of the non-manufacturing PMI to the banking, securities, insurance, and furthers industries.

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