Preview - here's what's expected from the first round of PMIs due from China for February

I posted on early indications for the Chinese economy here:

• Lesser watched data from China showing some indications of economic recovery

I am wary of these indications of early recovery. Maybe the figures won't be as bad as the previous but if not they won't be much better. Consensus Bloomberg expectations are low also (see below) and show a worse result is expected for February than in January. As always, treat the Jan & Feb data with a grain of salt due to the extended holidays around this time each year.

Due on 28 February at 0100GMT are the official PMIs (via NBS) with the privately surveyed PMIs following the next day.

Official:

• Manufacturing PMI expected 49.4. prior 49.5
• Non-manufacturing PMI expected 54.5, prior 54.7
• Composite prior 53.2

Caixin/Markit PMIs (these are the private survey ones, due 1 March at 0145GMT)

• Manufacturing PMI expected 48.5 prior 48.3
• Non-manufacturing PMI expected 54.0, prior 53.6
• Composite prior 50.9