Here Comes China's Official PMI...

china vinegar factory

China will report its official manufacturing PMI for March at 9 p.m. ET.

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Economists polled by Bloomberg are looking for a reading of 51.2. This is up from 50.1 in February.

A reading below 50 indicates contraction.

Bank of America’s Ting Lu expects manufacturing PMI to rise to 50.5. Official PMI has never decreased from February to March, and has increased by 3.1 points on average, according to Lu.

“However, given the current  weak recovery and the improved seasonal adjustment by the NBS, we expect the seasonal rebound this time would be relatively modest compared with previous years.”

Here’s a look at the trajectory of PMI and industrial production since 2005:

china pmi chart

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