The official NBS Non-Manufacturing PMI for China fell to 55.7 in December 2020 from an 8-1/2-year high of 56.4 a month earlier. Still, the latest reading pointed to the tenth straight month of increase in the service sector, as the economy recovered further from the COVID-19 crisis. New business expanded the least in five months (51.9 vs 52.8 in November), amid a steeper decline in new export orders (47.5 vs 49.0), while employment continued to fall (48.7 vs 48.9). Prices data showed both input costs and selling charges rose at a steeper pace. Finally, business sentiment weakened to its lowest in six months (60.6 vs 61.2). source: National Bureau of Statistics of China
Non Manufacturing PMI in China averaged 55.43 percent from 2007 until 2020, reaching an all time high of 62.20 percent in May of 2007 and a record low of 29.60 percent in February of 2020. This page provides the latest reported value for - China Non Manufacturing PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. China Non Manufacturing PMI - data, historical chart, forecasts and calendar of releases - was last updated on January of 2021.
Non Manufacturing PMI in China is expected to be 52.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Non Manufacturing PMI in China to stand at 53.00 in 12 months time. In the long-term, the China Non Manufacturing PMI is projected to trend around 52.90 percent in 2022, according to our econometric models.