HSBC Says No Longer Sponsoring Releases of PMIs
June 26 2015 - 2:34AM
Dow Jones News
BEIJING--HSBC said Friday it is no longer sponsoring releases of
the Purchasing Managers' Index globally, ending a cooperation with
data provider Markit that has been in place for years.
"It is a 'global exit' for us, not just China," Kristen Carter,
HSBC communications manager, told The Wall Street Journal in an
emailed statement.
The China HSBC PMIs have been considered a key gauge of China's
manufacturing and service sectors. While the official indexes are
based on a larger sample of firms, the HSBC surveys focus more on
smaller and private firms.
Markit couldn't immediately be reached for comment.
Write to Liyan Qi at liyan.qi@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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