Chinese PMI reports are closely watched by traders of China-prozxies, such as the Australian dollar
For the August data:
- Manufacturing, expected 51.3, prior 51.4
- Non-manufacturing prior 54.5
Earlier this week I posted on very early 4 indicators for China's economy this month: Early indicators for China's economy this month show steady but mixed results
What to expect today?
This via Barclays:
- We expect the NBS manufacturing PMI to moderate, to 51.3, driven by softer new orders and weaker investment growth.
- We forecast the Caixin manufacturing PMI will edge lower to 50.8 on an expected easing in private sector production, as evidenced by a moderation in private investment.
(ps. the Caixin PMI will be later in the week, not today)
Via National Australia Bank:
- China's PMI numbers are expected to come in slightly lower than previous but to still remain comfortably in expansion territory.
Westpac:
- External demand has been key to momentum
- Employment the series to watch for both sectors