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Here Comes HSBC China Flash PMI...

Mamta BadkarAug 22, 2013, 06:31 IST

REUTERS/David GrayA worker dries shirts bearing an image of U.S. President Barack Obama's face over that of China's late Chairman Mao Zedong at a shirt printing factory located on the outskirts of BeijingHSBC China flash manufacturing PMI for August is out at 9:45 p.m. ET.

Economists polled by Bloomberg are looking for manufacturing PMI to rise to 48.2 but stay below the contractionary level of 50. Manufacturing PMI fell to an 11-month low of 47.7 in July.

The official and HSBC PMI have been moving in different directions, with the official data showing an expansion in manufacturing.

With China's Q2 GDP slowing to 7.5%, economists are watching every data point for signs of growth below 7.5% which Premier Li Keqiang said would be the growth floor for 2013.

The HSBC Flash PMI reflects the responses of 85 - 90% of those surveyed.