Forex Flash: Final Chinese feb MNI Indicators declines from flash estimate - Nomura

Nomura economist Zhiwei Zhang notes that the The MNI China business sentiment indicator dipped to 60.98 in February from a flash number of 61.79.

However, he sees that it was still up from 55.16 in January. He writes, “New orders improved to 58.24 in February from 55.76 in January, and production jumped to 57.89 from 53.92. We expect the official PMI to rise only marginally to 50.7 in February from 50.4 in January, and suggest investors view the released reading cautiously, as it will likely be distorted by the lunar new year effect, which is difficult to remove statistically.”