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.