Economy > Economic Data

​Guangdong PMI survey in violation of law: NBS official

Xinhua Financein BEIJING
2018-12-19 11:38

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The National Bureau of Statistics (NBS) said Tuesday that the local authority in southern China's Guangdong Province has violated the law by surveying and publishing the local purchasing managers' index (PMI) with an expired license.

The survey conducted by the local industry and information technology department in Guangdong Province was once approved, however, authorities didn't reapply for approval from audit authorities after the survey license expired, the NBS official said.

Meanwhile, Guangdong's statistical department has participated in the publication of the PMI without ratification from the NBS, which has violated the law, the official added.

"Local authorities may continue the survey and release the data in due course as long as it is in accordance with the law and ratified by relevant statistical authorities," said the NBS official.

PMI is a monthly published economic indicator for the manufacturing sector. A reading above 50 indicates expansion, while a reading below reflects contraction.

In Guangdong's September PMI report, the regional PMI was 50.2 percent, 0.9 percentage points higher than that in August.
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