Publishers of the China Minxin purchasing managers index said they will stop updating the gauge of manufacturing to make a “major adjustment” to their calculations, dealing a second setback in recent months to investors looking for an early read on the economy.
Release of the unofficial purchasing managers index jointly compiled by China Minsheng Banking Corp. and the China Academy of New Supply-side Economics will be suspended starting this month, the Beijing-based academy said in an e-mailed statement Monday, about six hours before the latest monthly data were scheduled for release.
Six hours, I guess they found some big mistakes in the number really late. The article is here.
For pointers I thank Christopher Balding and Chris Anstey.