China's headline manufacturing PMI index likely to fall to 49.4 from 49.7 in Jan: Capital Economics

Quotes from Capital Economics:

- Like all Chinese data in the first quarter of the year, flash manufacturing PMI (01.45 GMT) figures will be affected by distortions related to the shift in timing of Lunar New Year. 

- But given the weakness of recent activity data, we believe the balance of risks lies to the downside for February. We expect a fall in the headline index to 49.4 from 49.7 in January.