The Caixin China General Services PMI rose to 54.8 in September 2020 from 54.0 a month earlier. This was the fifth straight month of growth in the sector and the steepest since June, amid a further recovery from the COVID-19 pandemic. New orders expanded faster, mainly led by domestic demand; and employment grew for the second month in a row. Meanwhile, new export orders remained in contractionary territory for seven of the last eight months. At the same time, backlogs of work have risen in three of the past four months. As for prices, input cost inflation dipped to a three-month low, while prices charged rose for the second straight month, but at a softer rate. Looking ahead, confidence remained strongly positive. source: Markit Economics

Services PMI in China averaged 52.14 points from 2012 until 2020, reaching an all time high of 58.40 points in June of 2020 and a record low of 26.50 points in February of 2020. This page provides the latest reported value for - China Services PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. China Services PMI - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020.

Services PMI in China is expected to be 52.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Services PMI in China to stand at 53.00 in 12 months time. In the long-term, the China Services PMI is projected to trend around 52.20 points in 2021 and 51.50 points in 2022, according to our econometric models.

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China Services PMI

Actual Previous Highest Lowest Dates Unit Frequency
54.80 54.00 58.40 26.50 2012 - 2020 points Monthly


News Stream
China Services Growth Accelerates: Caixin
The Caixin China General Services PMI rose to 54.8 in September 2020 from 54.0 a month earlier. This was the fifth straight month of growth in the sector and the steepest since June, amid a further recovery from the COVID-19 pandemic. New orders expanded faster, mainly led by domestic demand; and employment grew for the second month in a row. Meanwhile, new export orders remained in contractionary territory for seven of the last eight months. At the same time, backlogs of work have risen in three of the past four months. As for prices, input cost inflation dipped to a three-month low, while prices charged rose for the second straight month, but at a softer rate. Looking ahead, confidence remained strongly positive.
2020-10-09
China Services Growth Remains Solid: Caixin
The Caixin China General Services PMI stood at 54.0 in August 2020, little-changed from July's figure of 54.1, signaling a further solid increase in business activity amid ongoing resumption of work and normalization of market demand in the post-epidemic economic recovery. New orders rose markedly, despite easing further from June's recent record, while employment increased for the first time in seven months. Meantime, export orders fell for the second month in a row, while outstanding business dropped slightly following a mild rise in July. Prices data showed input costs rose the most since March, amid reports of higher staffing costs and raw material price. Output charges, meantime, rose after a slight reduction in July. Looking ahead, sentiment weakened to its lowest in three months.
2020-09-03
China Services Sector Expands at a Softer Pace
The Caixin China General Services PMI fell to 54.1 in July 2020 from an over 10-year high of 58.4 in June, pointing to the slowest expansion in the current three-month sequence of post-COVID recovery. New export business dropped sharply into contraction territory as the pandemic continued to hit other nations hard. Also, employment fell for the sixth consecutive month. Meantime, new orders rose for the third month in a row, maintaining its strong momentum; while outstanding business increased for the second straight month. On the price front, input costs rose while the prices that service providers charged customers declined slightly. Finally, sentiment strengthened to an over five-year high.
2020-08-05
China Services Growth Highest in Over A Decade
The Caixin China General Services PMI jumped to 58.4 in June 2020 from 55.0 in the previous month, pointing to the strongest growth in services activity since April 2010, widely attributed to the recent easing of virus-related restrictions and stronger demand conditions. New orders grew the most in nearly a decade as companies reported that greater customer numbers were resuming more normal business operations. In addition, export sales rose for the first time since January, amid improving global demand. Meantime, employment fell further generally linked to voluntary leaver and outstanding workloads went up for the first time in four months. On the price front, input cost dropped slightly, mainly due to lower staff-related costs while prices charged were broadly unchanged ending a six-month period of decline. According to respondents, competition for new work continued to limit overall pricing power. Looking ahead, business sentiment hit a three-year high.
2020-07-03

China Services PMI
The Caixin China General Services PMI (Purchasing Managers' Index) is based on data compiled from monthly replies to questionnaires sent to purchasing executives in over 400 private service sector companies. The index tracks variables such as sales, employment, inventories and prices. A reading above 50 indicates that the services sector is generally expanding; below 50 indicates that it is generally declining.