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Here Comes Chinese PMI...

Mamta BadkarFeb 1, 2014, 06:09 IST

ReutersA labourer cleans a steel ladle at Wuhan Iron and Steel Group

Official Chinese manufacturing PMI for January is out at 8 p.m. ET.

Economists polled by Bloomberg are looking for PMI to fall to 50.5, from 51 in December.

We already saw HSBC PMI fall to 49.5 in January, suggesting that manufacturing is contracting. This was the first contraction in six months.

The official PMI surveys a larger sample than the HSBC PMI, it also has more exposure to state owned enterprises, while the latter has more exposure to small and medium enterprises.