China PMI data suspended on accuracy concerns

The release of industry-specific data from China’s official purchasing manager’s index (PMI) has been delayed over accuracy concerns, Bloomberg reported, citing the National Bureau of Statistics (NBS). “We can’t ensure all industry-specific data can reach accuracy requirements,” Sheng Laiyun, a statistics agency official, said at a briefing in Beijing on Monday. “I don’t buy NBS’s explanation – industry-specific data has been there for years and proved very useful in reading the Chinese economy,” said Xu Gao, chief economist with China Everbright Securities.