The Caixin China General Services PMI fell to 55.0 in August from July’s 15-month high of 55.5 amid the recent wave of COVID-19 and the impact of adverse weather. Still, the latest print was the third straight month of growth in services activity, as new orders grew solidly with the rate of increase the second-steepest since October 2021 while broadly in line with the series average. Meantime, new export orders fell for the eighth straight month, down at a steeper rate than that in July; while employment declined for the second month running, with backlogs of work rising after a slight drop in July. On prices, input cost inflation accelerated to a four-month high, as food and marketing costs, labor, and raw materials were higher. Output charged rose fractionally amid efforts to stimulate sales. Finally, confidence strengthened to a nine-month high, attributed to hopes of a recovery in demand and improving the pandemic situation. source: Markit Economics
Services PMI in China averaged 52.07 points from 2012 until 2022, 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 September of 2022.
Services PMI in China is expected to be 54.80 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the China Services PMI is projected to trend around 50.50 points in 2023 and 52.00 points in 2024, according to our econometric models.