At 9:00 PM EST, China's NBS will release the official October Manufacturing PMI number.
Economists expect the measure to increase to 50.2 from 49.8 in September.
"By breakdown, “New orders” and “Production” could rise as destocking comes to an end and restocking might kick in on improved growth outlook, a rebound in earnings growth and the recent rise of commodity prices, so “Raw material inventory” and “Finished goods inventory” could increase as well," writes Bank of America economist Ting Lu. Lu expects a reading of 50.2, which is right in line with the consensus.
At 9:45 PM EST, we will get the unofficial HSBC China manufacturing PMI.
Last week, the HSBC China Flash (or preliminary) number came in at 49.1, a three-month high. This tends to be a pretty good indicator of the final number. This would be a gain from last month's reading of 47.9.
China is the world's second largest economy. Almost every other economy looks to it as a source of growth.
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