Update

HSBC Final & Flash PMI

http://www.markiteconomics.com/Survey/Page.mvc/PressReleases
Surveys Weight
Preliminary Report (Flash) 100%
Revised Report (Final) 100%
 Date Index Change
Jan-13 52.3 0.8
Feb-13 50.4 -1.9
Mar-13 51.6 1.2
Apr-13 50.4 -1.2
May-13 49.2 -1.2
Jun-13 48.2 -1.0
Jul-13 47.7 -0.5
Aug-13 50.1 2.4
Sep-13 50.2 0.1
Oct-13 50.9 0.7
Nov-13 50.8 -0.1
Dec-13 50.5 -0.3
Jan-14 49.5 -1.0
Feb-14 48.5 -1.0
Mar-14 48.0 -0.5
Apr-14 48.1 0.1
May-14 49.4 1.3
Jun-14 50.7 1.3
Jul-14 51.7 1.0
Aug-14 50.2 -1.5
Sep-14 50.2 0.0
Oct-14 50.4 0.2
Nov-14 50.0 -0.4
Dec-14 49.5 -0.5
HSBC China PMI Reading Points
Previous 50.0
Latest 49.5 -0.5
Date HSBC China PMI Change China GDP Growth y/y %
Jan-05 52.1
Feb-05 52.9 0.8
Mar-05 55.2 2.3 10.5%
Apr-05 54.4 -0.8
May-05 53.3 -1.1
Jun-05 51.0 -2.3 10.1%
Jul-05 51.5 0.5
Aug-05 50.6 -0.9
Sep-05 50.9 0.3 10.0%
Oct-05 50.1 -0.8
Nov-05 49.8 -0.3
Dec-05 50.1 0.3 9.9%
Jan-06 50.2 0.1
Feb-06 50.7 0.5
Mar-06 51.0 0.3 11.4%
Apr-06 52.7 1.7
May-06 52.8 0.1
Jun-06 52.9 0.1 11.5%
Jul-06 53.0 0.1
Aug-06 52.6 -0.4
Sep-06 52.4 -0.2 10.6%
Oct-06 52.1 -0.3
Nov-06 53.0 0.9
Dec-06 52.4 -0.6 10.4%
Jan-07 52.0 -0.4
Feb-07 53.0 1.0
Mar-07 52.3 -0.7 13.0%
Apr-07 53.3 1.0
May-07 54.1 0.8
Jun-07 55.0 0.9 12.6%
Jul-07 53.2 -1.8
Aug-07 53.4 0.2
Sep-07 55.0 1.6 11.5%
Oct-07 55.2 0.2
Nov-07 52.8 -2.4
Dec-07 53.3 0.5 11.2%
Jan-08 53.2 -0.1
Feb-08 52.8 -0.4
Mar-08 54.4 1.6 10.6%
Apr-08 55.4 1.0
May-08 54.7 -0.7
Jun-08 53.3 -1.4 10.1%
Jul-08 53.3 0.0
Aug-08 49.2 -4.1
Sep-08 47.7 -1.5 9.0%
Oct-08 45.2 -2.5
Nov-08 40.9 -4.3
Dec-08 41.2 0.3 6.8%
Jan-09 42.2 1.0
Feb-09 45.1 2.9
Mar-09 44.8 -0.3 6.2%
Apr-09 50.1 5.3
May-09 51.2 1.1
Jun-09 51.8 0.6 7.9%
Jul-09 52.8 1.0
Aug-09 55.1 2.3
Sep-09 55.0 -0.1 9.1%
Oct-09 55.4 0.4
Nov-09 55.7 0.3
Dec-09 56.1 0.4 10.7%
Jan-10 57.4 1.3
Feb-10 55.8 -1.6
Mar-10 57.0 1.2 11.9%
Apr-10 55.4 -1.6
May-10 52.7 -2.7
Jun-10 50.4 -2.3 10.3%
Jul-10 49.4 -1.0
Aug-10 51.9 2.5
Sep-10 52.9 1.0 9.6%
Oct-10 54.8 1.9
Nov-10 55.3 0.5
Dec-10 54.4 -0.9 9.8%
Jan-11 54.5 0.1
Feb-11 51.7 -2.8
Mar-11 51.8 0.1 9.7%
Apr-11 51.8 0.0
May-11 51.6 -0.2
Jun-11 50.1 -1.5 9.5%
Jul-11 49.3 -0.8
Aug-11 49.9 0.6
Sep-11 49.9 0.0 9.1%
Oct-11 51.0 1.1
Nov-11 47.7 -3.3
Dec-11 48.7 1.0 8.9%
Jan-12 48.8 0.1
Feb-12 49.6 0.8
Mar-12 48.3 -1.3 8.1%
Apr-12 49.3 1.0
May-12 48.4 -0.9
Jun-12 48.2 -0.2 7.6%
Jul-12 49.3 1.1
Aug-12 47.7 -1.6
Sep-12 47.9 0.2 7.4%
Oct-12 49.5 1.6
Nov-12 50.5 1.0
Dec-12 51.5 1.0 7.9%
Jan-13 52.3 0.8
Feb-13 50.4 -1.9
Mar-13 51.6 1.2 7.7%
Apr-13 50.4 -1.2
May-13 49.2 -1.2
Jun-13 48.2 -1.0 7.5%
Jul-13 47.7 -0.5
Aug-13 50.1 2.4
Sep-13 50.2 0.1 7.8%
Oct-13 50.9 0.7
Nov-13 50.8 -0.1
Dec-13 50.5 -0.3 7.7%
Jan-14 49.5 -1.0
Feb-14 48.5 -1.0
Mar-14 48.0 -0.5 7.4%
Apr-14 48.1 0.1
May-14 49.4 1.3
Jun-14 50.7 1.3 7.5%
Jul-14 51.7 1.0
Aug-14 50.2 -1.5
Sep-14 50.2 0.0 7.3%
Oct-14 50.4 0.2
Nov-14 50.0 -0.4
Dec-14 49.5 -0.5
China GDP q/q
2.4%

2.3%

2.5%

2.2%

1.8%

1.4%
2.1%

2.0%

1.9%

HSBC China Manufacturing PMI

60.0
1.5%

1.8%
55.0

2.3%

50.0
1.7%

1.4%
45.0

2.0%

40.0
1.9%
3

0
9

9
c- 1

c- 2

c- 2

c- 6

c- 6

c- 7

c- 8

c- 9
c- 9

c-0

c- 3

c-4

c-4

c-5
De
De

De

De

De

De

De

De

De

De

De

De

De

De
HSBC China Manufacturing PMI (Zoom)

58.0

52.0

46.0
De
40.0
46.0

c- 9
9
De
c- 0
6
De
c- 1
3
De
c- 2
0
De
c- 2
7
De
c- 3
4
De
c- 4
1
De
c- 4
8
De
c- 5
5
De
c-6
2
De
c-6
9
De
c-7
6
De
c- 8
3
De
c- 9
0
 August
PMI 50.1
Output 50.6
New Orders 50.5
Export Orders 46.5
Inventories 48.3
Input prices 50.1
 HSBC China PMI Reading Points
Previous 50.7
Latest 51.7 1.0

ring PMI China Manufacturing PMI vs. GDP Growth

60.0

55.0

50.0

45.0

HSBC China PMI

Column B
China GDP Growth y/y %

40.0
6

1
9
c- 6

c- 7

c- 8

c- 9

c- 9

c- 0

c- 1
De

De

De

De

De

De

De

g PMI (Zoom) China Manufacturing PMI vs. GDP Growth y/y

60.0

55.0

50.0

45.0

HSBC China PMI

Column B
 50.0

45.0

HSBC China PMI

Column B
China GDP Growth y/y %

40.0
9

1
c- 8

c- 9

c- 0

c- 1
c-6

c-7

c-9
De

De

De

De

De

De

De
July
47.7
48.1
46.6
47.7
48.6
47.7
 PMI vs. GDP Growth y/y
14.0%
13.0%
12.6%
11.9%
11.5%
11.5% 12.0%
11.4%
11.2%
10.6%10.7%
10.6%
10.5%
10.4%
10.3%
10.1%
10.1%
10.0%
9.9% 9.8%
9.7%
9.6% 10.0%
9.5%
9.1%
9.0%9.1%
8.9%
8.1%
7.9% 7.9%
7.8%
7.7%
7.7%
7.6% 8.0%
7.5%
7.5%
7.4%
7.4%
7.3%
6.8%
6.2%
6.0%

4.0%

2.0%

0.0%

MI vs. GDP Growth y/y (Zoom) 13.0%

12.6% 13.0%

11.9%
11.5%
11.5%
11.4%
11.2%
10.6%10.7%
10.6% 11.0%
10.5%
10.4%
10.3%
10.1%
10.1%
10.0%
9.9% 9.8%
9.7%
9.6%
9.5%
9.1%
9.1%
9.0%8.9%
9.0%
8.1%
7.9%7.9%
7.8%
7.7%
7.7%
7.6%
7.5%
7.5%
7.4%
7.4%
7.3%
6.8% 7.0%
6.2%

5.0%

3.0%
 7.3%
6.8% 7.0%
6.2%

5.0%

3.0%

1.0%
 Date Official PMI Change
Jan-05 54.7 #VALUE!
Feb-05 54.5 -0.20
Mar-05 57.9 3.40
Apr-05 56.7 -1.20
May-05 52.9 -3.80
Jun-05 51.7 -1.20
Jul-05 51.1 -0.60
Aug-05 52.6 1.50
Sep-05 55.1 2.50
Oct-05 54.1 -1.00
Nov-05 54.1 0.00
Dec-05 54.3 0.20
Jan-06 52.1 -2.20
Feb-06 52.1 0.00
Mar-06 55.3 3.20
Apr-06 58.1 2.80
May-06 54.8 -3.30
Jun-06 54.1 -0.70
Jul-06 52.4 -1.70
Aug-06 53.1 0.70
Sep-06 57 3.90
Oct-06 54.7 -2.30
Nov-06 55.3 0.60
Dec-06 54.8 -0.50
Jan-07 55.1 0.30
Feb-07 53.1 -2.00
Mar-07 56.1 3.00
Apr-07 58.6 2.50
May-07 55.7 -2.90
Jun-07 54.5 -1.20
Jul-07 53.3 -1.20
Aug-07 54 0.70
Sep-07 56.1 2.10
Oct-07 53.2 -2.90
Nov-07 55.4 2.20
Dec-07 55.3 -0.10
Jan-08 53 -2.30
Feb-08 53.4 0.40
Mar-08 58.4 5.00
Apr-08 59.2 0.80
May-08 53.3 -5.90
Jun-08 52 -1.30
Jul-08 48.4 -3.60
Aug-08 48.4 0.00
Sep-08 51.2 2.80
Oct-08 44.6 -6.60
Nov-08 38.8 -5.80
Dec-08 41.2 2.40
Jan-09 45.3 4.10
Feb-09 49 3.70
Mar-09 52.4 3.40
Apr-09 53.5 1.10
May-09 53.1 -0.40
Jun-09 53.2 0.10
Jul-09 53.3 0.10
Aug-09 54 0.70
Sep-09 54.3 0.30
Oct-09 55.2 0.90
Nov-09 55.2 0.00
Dec-09 56.6 1.40
Jan-10 55.8 -0.80
Feb-10 52 -3.80
Mar-10 55.1 3.10
Apr-10 55.7 0.60
May-10 53.9 -1.80
Jun-10 52.1 -1.80
Jul-10 51.2 -0.90
Aug-10 51.7 0.50
Sep-10 53.8 2.10
Oct-10 54.7 0.90
Nov-10 55.2 0.50
Dec-10 53.9 -1.30
Jan-11 52.9 -1.00
Feb-11 52.2 -0.70
Mar-11 53.4 1.20
Apr-11 52.9 -0.50
May-11 52 -0.90
Jun-11 50.9 -1.10
Jul-11 50.7 -0.20
Aug-11 50.9 0.20
Sep-11 51.2 0.30
Oct-11 50.4 -0.80
Nov-11 49 -1.40
Dec-11 50.3 1.30
Jan-12 50.5 0.20
Feb-12 51 0.50
Mar-12 53.1 2.10
Apr-12 53.3 0.20
May-12 50.4 -2.90
Jun-12 50.2 -0.20
Jul-12 50.1 -0.10
HSBC China Manufacturing PMI vs Offic
Aug-12 49.2 -0.90
62.0
Sep-12 49.8 0.60
Oct-12 50.2 0.40
Nov-12 50.6 0.40

56.0
 62.0

Dec-12 50.6 0.00

56.0
Jan-13 50.4 -0.20
Feb-13 50.1 -0.30
Mar-13 50.9 0.80
Apr-13 50.6 -0.30
May-13 50.8 0.20 50.0
Jun-13 50.1 -0.70
Jul-13 50.3 0.20
Aug-13 51.0 0.70
Sep-13 51.1 0.10 44.0
Oct-13 51.4 0.30
Nov-13 51.4 0.00 HSBC China PMI
Dec-13 51 -0.40 Official PMI
Column B
Jan-14 50.5 -0.50
38.0
Feb-14 50.2 -0.30
9

9
6

2
c- 9

c- 1

c- 2

c- 2

c- 4

c- 4

c- 5

c- 6
c-0

c-3

c-6
Mar-14 50.3 0.10

De

De
De

De

De

De

De

De

De

De

De
Apr-14 50.4 0.10
May-14 50.8 0.40
Jun-14 51.0 0.20
Jul-14 51.7 0.70
HSBC China Manufacturing PMI vs Official C
Aug-14 51.1 -0.60
62.0
Sep-14 51.1 0.00
Oct-14 50.8 -0.30
Nov-14 50.3 -0.50

56.0

50.0

44.0

HSBC China PMI

Official PMI
Column B

38.0
3

9
9

2
c- 9

c- 1

c- 2

c- 2

c- 4

c- 4

c- 6
c-0

c- 3

c-5

c-6
De

De

De

De

De

De

De

De

De

De

De

D
cturing PMI vs Official China PMI
 -4 c- 4
8 8
De De
c-5 c- 5
5 5
De De
c-6 c-6
2 2
De De
c- 6 c- 6
9 9
De De
c- 7 c- 7
6 6
De De
c- 8 c- 8
3 3
De De
c- 9 c- 9
0 0
De De

ng PMI vs Official China PMI (Zoom)

c- 9 c-9
7 7
De De
c- 0 c- 0
4 4
De De
c- 1 c- 1
1 1
 Date FXI ETF
Jan-05
Feb-05 16.46
Mar-05 15.55
Apr-05 15.75
May-05 15.56
Jun-05 16.26
Jul-05 17.59
Aug-05 17.59
Sep-05 18.29
Oct-05 16.4
Nov-05 17.36
Dec-05 17.9
Jan-06 20.84
Feb-06 21.09
Mar-06 21.58
Apr-06 22.83
May-06 21.28
Jun-06 22.31
Jul-06 22.85
Aug-06 23.01
Sep-06 23.63
Oct-06 24.86
Nov-06 27.67
Dec-06 32.37
Jan-07 30.16
Feb-07 28.79
Mar-07 29.75
Apr-07 30.58
May-07 32.63
Jun-07 37.43
Jul-07 40.64
Aug-07 43.66
Sep-07 52.28
Oct-07 63.47
Nov-07 54.45
Dec-07 50.1
Jan-08 42.34
Feb-08 42.69
Mar-08 39.72
Apr-08 46.67
May-08 44.73
Jun-08 38.95
Jul-08 39.87
Aug-08 37.61
Sep-08 30.78
Oct-08 22.47
Nov-08 23.75
Dec-08 26.16
Jan-09 22.58
Feb-09 21.86
Mar-09 25.65
Apr-09 28.76
May-09 33.6
Jun-09 34.81
Jul-09 37.97
Aug-09 35.66
Sep-09 37.12
Oct-09 37.83
Nov-09 39.64
Dec-09 38.54
Jan-10 34.98
Feb-10 36.1
Mar-10 38.39
Apr-10 37.24
May-10 35.91
Jun-10 36.09
Jul-10 38.04
Aug-10 36.24
Sep-10 39.5
Oct-10 41.48
Nov-10 39.98
Dec-10 39.9
Jan-11 39.4
Feb-11 39.31
Mar-11 41.59
Apr-11 41.87
May-11 42.02
Jun-11 40.44
Jul-11 39.88
Aug-11 36.37
Sep-11 29.03
Oct-11 33.95
Nov-11 34.1
Dec-11 32.9
Jan-12 36.64
Feb-12 38.02
Mar-12 34.6
Apr-12 35.79
May-12 31.6
Jun-12 32.57
Jul-12 33.09
HSBC China Manufacturing PMI vs China ETF (FXI) 2005-201
Aug-12 31.99 60.0
Sep-12 33.47
Oct-12 35.58 FXI ETF
Column B
Nov-12 35.93 HSBC China PMI
Dec-12 39.21 Column B
55.0
Jan-13 40.2
Feb-13 37.75
Mar-13 35.8
Apr-13 36.58
May-13 34.91 50.0
Jun-13 32.37
Jul-13 34.1
Aug-13 34.97
Sep-13 36.91 45.0
Oct-13 37.4
Nov-13 39.95
Dec-13 37.97
Jan-14 34.5
40.0
Feb-14 35.39
Mar-14 35.78
Apr-14 34.98
May-14 36.85
Jun-14 37
Jul-14 40.7 HSBC China Manufacturing PMI vs China ETF (FXI) (Zoom)
Aug-14 40.4 60.0
Sep-14 38.3
FXI ETF
Oct-14 39.93 Column B
Nov-14 40.6 HSBC China PMI
Column B
55.0

50.0

45.0

40.0
40.0
a ETF (FXI) 2005-2014

60.0

50.0

40.0

30.0

20.0

10.0

hina ETF (FXI) (Zoom)

60.0

50.0

40.0

30.0

20.0

10.0
10.0
Date Crude Oil WTI
Jan-05 46.84
Feb-05 48.15
Mar-05 54.19
Apr-05 52.98
May-05 49.83
Jun-05 56.35
Jul-05 59.00
Aug-05 64.99
Sep-05 65.59
Oct-05 62.26
Nov-05 58.32
Dec-05 59.41
Jan-06 65.49
Feb-06 61.63
Mar-06 62.69
Apr-06 69.44
May-06 70.84
Jun-06 70.95
Jul-06 74.41
Aug-06 73.04
Sep-06 63.80
Oct-06 58.89
Nov-06 59.08
Dec-06 61.96
Jan-07 54.51
Feb-07 59.28
Mar-07 60.44
Apr-07 63.98
May-07 63.46
Jun-07 67.49
Jul-07 74.12
Aug-07 72.36
Sep-07 79.92
Oct-07 85.80
Nov-07 94.77
Dec-07 91.69
Jan-08 92.97
Feb-08 95.39
Mar-08 105.45
Apr-08 112.58
May-08 125.40
Jun-08 133.88
Jul-08 133.37
Aug-08 116.67
Sep-08 104.11
Oct-08 76.61
Nov-08 57.31
Dec-08 41.12
Jan-09 41.71
Feb-09 39.09
Mar-09 47.94
Apr-09 49.65
May-09 59.03
Jun-09 69.64
Jul-09 64.15
Aug-09 71.05
Sep-09 69.41
Oct-09 75.72
Nov-09 77.99
Dec-09 74.47
Jan-10 78.33
Feb-10 76.39
Mar-10 81.20
Apr-10 84.29
May-10 73.74
Jun-10 75.34
Jul-10 76.32
Aug-10 76.60
Sep-10 75.24
Oct-10 81.89
Nov-10 84.25
Dec-10 89.15
Jan-11 89.17
Feb-11 88.58
Mar-11 102.86
Apr-11 109.53
May-11 100.90
Jun-11 96.26
Jul-11 97.30
Aug-11 86.33
Sep-11 85.52
Oct-11 86.32
Nov-11 97.16
Dec-11 98.56
Jan-12 100.27
Feb-12 102.20
Mar-12 106.16
Apr-12 103.32
May-12 94.66
Jun-12 82.30
Jul-12 87.90
Aug-12 94.13
HSBC China Manufacturing PMI vs CrudeOil (WTI) 2005
Sep-12 94.51 60.0
Oct-12 89.49
Nov-12 86.53
Dec-12 87.86 Crude Oil WTI
Jan-13 94.76 Column B
HSBC China PMI
55.0
Feb-13 95.31 Column B

Mar-13 92.94
Apr-13 92.02
May-13 94.51
Jun-13 95.77 50.0
Jul-13 104.67
Aug-13 106.57
Sep-13 106.29
Oct-13 100.54 45.0
Nov-13 93.86
Dec-13 98.48
Jan-14 97.33
Feb-14 103.00
40.0
Mar-14 101.20
Apr-14 99.10
May-14 103.00
Jun-14 105.00
Jul-14 98.70
Aug-14 95.00 HSBC China Manufacturing PMI vs CrudeOil (WTI) (Zoo
Sep-14 91.27 60.0

Oct-14 80.66 Crude Oil WTI

Column B
Nov-14 66.03 HSBC China PMI
Column B

55.0

50.0

45.0

40.0
40.0
s CrudeOil (WTI) 2005-2014
145.0

135.0

125.0

115.0

105.0

95.0

85.0

75.0

65.0

55.0

45.0

35.0

25.0

vs CrudeOil (WTI) (Zoom)

145.0
ude Oil WTI
umn B
BC China PMI 135.0
umn B
125.0

115.0

105.0

95.0

85.0

75.0

65.0

55.0

45.0

35.0

25.0
45.0

35.0

25.0