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Here Comes HSBC China PMI...

Mamta BadkarJan 30, 2014, 06:51 IST

Reuters

HSBC China PMI for January is out at 8:45 p.m. ET.

Economists polled by Bloomberg are looking for manufacturing PMI to fall to 49.6. This is down from 50.5. in December.

The flash reading of 49.6 was the first contraction in six months. The weaker than expected number was attributed to the Lunar New Year holiday.

A reading below 50 suggests contraction in the manufacturing sector.

Chinese economic growth slowed to the lowest level since 1999, in 2013.

A further contraction in manufacturing would only add to signs of an economic slowdown in China.

This chart from Societe Generale shows the trajectory of official and HSBC PMI:

Societe Generale