HSBC China manufacturing PMI for May is out at 9:45 p.m. ET.
Economists polled by Bloomberg are looking for a reading of 49.6, down from 50.4 in April.
HSBC Flash PMI, a preliminary reading published earlier this month, showed that Chinese manufacturing had contracted, falling to a seven-month low of 49.6
This is markedly different from official manufacturing PMI which beat expectations and climbed to 50.8, driven by by output which climbed to 53.3 in May.
As concerns re-surface about China’s economic slowdown, the direction of this number is key.
The main bear argument on China continues to be that it is taking more and more credit growth, to deliver less and less economic growth. A weak number will add to that concern.
The HSBC China survey reports on 420 companies, while the NBS survey considers about 5,000. It will be interesting to see if the data points diverge.
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