China April PMIs are released from Tuesday - heads up preview

Both the official and the privately surveyed China PMIs are released in the coming week.

Tuesday 30 April 0100GMT:

Official PMIS for:

• Manufacturing, expected 50.5, prior 50.5
• Non-manufacturing, expected 55.0, prior 54.8
• Composite, prior 51.0

Wednesday 2 May 0145GMT

• Caixin/Markit manufacturing PMI expected 50.9, prior 50.8

Monday 6 May 0145GMT

• Caixin/Markit Non-manufacturing, expected 54.6, prior 54.4
• Caixin/Markit Composite, prior 52.9

The PMIs surged in March, but the question is whether this is a sign of a growth bounce in the economy or a bounce from the lunar new year period in January and February. The April PMIs might illuminate this a little. As you can see, an improvement is suspected in the headline numbers, the details will provide more information. April is the first mongth of Q2. Q1 GDP came in not too bad:

• China Q1 GDP: 1.4% q/q (expected 1.4%) and 6.4% y/y (expected 6.3%)

March activity data was solid also:

• China March Industrial production 8.5% y/y (expected 5.9%)
• China March Retail sales 8.7% y/y (expected 8.4% y/y)
• China March Investment in fixed assets (excl. rural): 6.3% y/y (6.3%)