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