The Official NBS Non-Manufacturing PMI rose to 54.1 in January 2020 from 53.5 in the previous month and beating market consensus of 53.5. The latest reading pointed to a stronger expansion in the services sector, as new orders growth accelerated (50.6 vs 50.4 in December), while both overseas sales (48.4 vs 47.8) and employment (48.6 vs 48.3) dropped at a softer pace. On the price front, input prices increased steeply (53.3 vs 52.4), and output charges continued to rise (50.5 vs 50.3). Looking ahead, business sentiment improved (59.6 vs 59.1). The impact of the coronavirus outbreak was not fully reflected in this month reading as the survey was conducted before January 20th.
Non Manufacturing PMI in China averaged 55.64 percent from 2007 until 2020, reaching an all time high of 62.20 percent in May of 2007 and a record low of 50.80 percent in December of 2008. 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. source: National Bureau of Statistics of China
Non Manufacturing PMI in China is expected to be 51.00 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 52.00 in 12 months time. In the long-term, the China Non Manufacturing PMI is projected to trend around 52.00 percent in 2021, according to our econometric models.