China Services PMI2012-2020 Data | 2021-2022 Forecast | Calendar | Historical

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.

The Caixin China General Services PMI jumped to 55.0 in May 2020 from 44.4 in the previous month, pointing to the first month of growth in the service sector since January and the fastest since October 2010, as the economy recovers from strict coronavirus-led containment measures. New orders rose the most since September 2010, boosted by stronger domestic demand, while new export orders fell markedly as many key markets imposed public health measures to fight the pandemic. Meanwhile, employment declined again on signs of spare capacity and efforts to raise efficiency. On the price front, average input prices were broadly unchanged for the second month running, while output charges continued to fall as firms sought to stimulate sales. Looking ahead, sentiment remained strong, despite softening from the previous month.

The Caixin China General Services PMI rose to 44.4 in April 2020 from 43.0 in the previous month, pointing to the third straight month of contraction in the sector due to weakening demand both at home and abroad amid the COVID-19 pandemic. New orders fell at a slower rate despite a near record fall in exports, and employment declined the most since data collection began in late-2005. On the price front, input costs were broadly stable in April, as firms discounted their selling prices again as part of attempts to boost new orders. Looking ahead, confidence picked up to a three-month high amid hopes of a recovery in conditions once the pandemic situation improves.

The Caixin China General Services PMI rose to 43.0 in March 2020 from a record low of 26.5 in the previous month. This was the second-lowest reading since the survey began in 2005, amid concerns over the longevity and severity of the COVID-19 pandemic. New orders fell at a softer pace despite the substantial decline in export sales, while employment fell for the second straight month and at a steeper rate and the rate of backlog depletion was the quickest seen since September 2015. On the price front, average input costs rose after falling substantially, driven by increased overtime payments and investment into anti-virus equipment for staff. Meanwhile, selling prices dropped again and at the steepest rate since April 2009, as part of efforts to increase sales. Looking ahead, confidence picked up slightly from February's record low but remained historically weak.