China PMI data (official, February) is due today - preview

Economic data coming up from China today, Purchasing Managers index for manufacturing and services

Due at 0100 GMT:

Manufacturing

• expected 55.1, prior 51.3

Non-manufacturing

• expected 55.0, prior 55.3

Composite

• prior 54.6

I posted on some early indications for the PMIs yesterday here ICYMI:

• Here is a head's up on what the early indications are for China PMIs

A quickie preview of the manufacturing number, via Nomura:

We expect China's official PMI to ease further

• The official PMI is likely to dip again to 51.0 in February from 51.3 in January, as February this year has fewer working days than last due to a later lunar new year.
• High-frequency data (such as the furnace operation rate, coal consumption by major power plants and steel price inflation) also point to weakness in February.

And, a quickie via Westpac:

• Momentum is being sustained
• But is unlikely to further accelerate
• Non-manufacturing PMI last at an above-average 55.3, while the manufacturing PMI was around trend at 51.3