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China Services PMI Jumps To 4-Month High (And Drops Near 2015 Lows)

Tyler Durden's picture




 

Just like Chinese Manufacturing, the Services PMI surveys from official sources and Caixin contradict each other. Providng hope for every bull, bear, and greater fool, official government data suggests the services economy is doing great and stimulus is working as it jumps to 4-month highs. However, Caixin's Services PMI shows a sudden drop near 2015 lows suggesting the need for moar stimulus now... take your pick, it's all farce!

 

 

Yuan (on- and off-shore) are both flat following the fixing but stocks are reversing yesterday's divergence (CSI-300 and Shanghai flat to lower, ChiNext and Shenzhen jumping higher).

 

Charts: Bloomberg

 

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Thu, 12/03/2015 - 09:40 | 6870103 lucky and good
lucky and good's picture

To most of the the world China's economy remains veiled behind a shroud and is far from transparent. Not only because China is far away from our shores, but the fact is their economy is very controlled by the government that acts as its puppet master and corruption has flourished. The bottom-line is we often have a difficult time getting real information on what is happening.

This is written not to diminish the accomplishments of China or to question their progress, but to point out much of what we have witnessed is the result of one time factors that have largely played out. Several factors have drastically changed politically, socially and from a military perspective since the days when America fueled China's growth. The article below titled, "China's Veiled Economy" highlights some of the reasons for doubting China.

 http://brucewilds.blogspot.com/2015/12/chinas-veiled-economy.html

Thu, 12/03/2015 - 10:13 | 6870203 zhanglini
zhanglini's picture

are the numbers not supposed to be different, usually? b/c they pull from different samples, and may reflect different things.  If they are pretty much the same all the time, you would have said that's the proof of manufactured data....

Thu, 12/03/2015 - 20:47 | 6873484 JenkinsLane
JenkinsLane's picture

"Wax on, wax off."

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