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

All China economic data

(Reporting by Kevin Yao and Alan Wheatley) (([e-mail]; [phone]; [e-mail])) Keywords: CHINA ECONOMY/PMI (If you have a query or comment on this story, send an email to [e-mail]) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.