TD eye signs of a weakening global economy in China's PMIs due later today

Official Chinese PMIs are due on Tuesday 31 August 2021 at 0100 GMT

Posted earlier:

• China PMI data for August due this week - what to expect

Manufacturing PMI:

• expected 50.1
• 50.4 in July

Non-manufacturing PMI

• expected 52.0
• 53.3 in July

A snippet via TD, analysts there are eyeing the bigger picture, looking for clues in this data today:

• Markets are already starting to price in weaker global growth prospects in the months ahead, with peak growth having already passed
• China is contributing to this as seen in its recent data releases and this is likely to be echoed in the release of China's August PMI data

Natixis are wary of the July manufacturing PMI decline continuing in August, citing their proprietary tracker:

• our tracker expects such weaknesses to persist as the July macro data has shown signs of deceleration in economic activities. Beyond the cyclical slowdown, the near term uncertainties around regulatory changes could also hinder business sentiment.