The official NBS Non-Manufacturing PMI for China increased to 55.9 in September 2020 from 55.2 a month earlier, signaling the fastest growth in the service sector since November 2013 as the economy recovers further from the COVID-19 crisis. New business rose faster (54.0 vs 52.3 in August), while declines were seen in both new export orders (49.1 vs 45.1) and employment (49.1 vs 48.3). Prices data showed input cost increased for the fifth month in a row but at a slower rate (50.6 vs 51.9), while selling prices dropped for the first time in three months (48.9 vs 50.1). Finally, business sentiment strengthened to a four-month high (63.0 vs 62.1).
Non Manufacturing PMI in China averaged 55.42 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 October of 2020. source: National Bureau of Statistics of China
Non Manufacturing PMI in China is expected to be 54.90 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 50.40 in 12 months time. In the long-term, the China Non Manufacturing PMI is projected to trend around 53.00 percent in 2021 and 52.90 percent in 2022, according to our econometric models.