PREVIEW-China’s official PMI set to pick up in March

* WHAT: China’s official PMI for March

* WHEN: Thursday, April 1 around 0100 GMT

REUTERS FORECAST:

Median 54.5, up from 52.0 in February, based on 10
analysts’ forecasts ranging from a low of 53.5 to a high of
56.0.

FACTORS TO WATCH:

After the second straight dip in February, the PMI may have
rebounded as China’s exports continue to recover while domestic
investment and consumption remain robust.

MARKET IMPACT:

As the timeliest of China’s indicators, the PMI has the
potential to affect market sentiment in particular in countries
such as Australia that are big exporters of commodities to
China.

While China’s robust growth has become a major driver of the
global economy, fears of further policy tightening by Beijing
to head off inflationary overheating have rattled financial
markets in recent months.

Breakdown of forecasts:

Nomura 56.0

ING 55.5

FORECAST 55.4

Bank of America Merrill Lynch 55.2

Barclays Capital 55.0

Action Economics 54.0

Citi 54.0

JPMorgan 54.0

OCBC 54.0

Standard Chartered 53.5

– – – – – – – – – – – – – – – – – – –

Median 54.5

Previous month 52.0

Year earlier 52.4

For February’s official PMI [ID:nTOE62001T]

All China economic data (CN/DATA: )

Money

(Reporting by Kevin Yao and Alan Wheatley)

PREVIEW-China’s official PMI set to pick up in March