0145 GMT will bring the China Caixin/Markit PMIs Services and Composite for April
- Services expected 40, prior 42
- Composite prior 43.9
We had the official PMIs over the weekend, services was ugly indeed:
- Non-manufacturing 41.9 vs. prior 48.4
- China PMIs for April 2022 have been published - all are well into contraction
- All the PMIs released from China on Saturday showed further sharp contraction
In April lockdowns intensified, hence the expected worsening from the March reading.