According to the median forecast of 25 economists polled by Reuters, a majority of them expect the Chinese manufacturing sector activity to continue its modest pace of expansion in the month of April following surprisingly solid March figures.
Key Findings:
“The official Purchasing Managers’ Index (PMI) is forecast at 50.5, unchanged from March’s reading, which was the first expansion in four months.
A private business survey – the Caixin/Markit Manufacturing Purchasing Managers’ index (PMI) – which focuses more on small and medium-sized Chinese firms – is expected to show growth quickened in April.
The Caixin PMI is forecast to pick up to 51.0 from 50.8 in March, as policymakers’ efforts to channel affordable financing to struggling smaller firms appears to be bearing fruit.”
Both the Chinese official and Caixin manufacturing PMI releases are due tomorrow at 0100 and 0145 GMT respectively.
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