The Caixin China General Services PMI increased to 52.9 in January 2023 from 48.0 in December. This was the first growth in the service sector since last August, buoyed by the recent rollback of pandemic curbs and faster-than-expected peaking of infections.. New orders increased for the first time in five months. The modest upturn in new orders was supported by higher customer numbers, with new export business rising the most in 21 months. Meanwhile, employment fell at the softest pace in three months, with backlogs of work increasing at the fastest pace since May 2022. On prices, input cost inflation rose for the first time in five months, due to higher prices of raw material, staff and fuel expenses. Meanwhile, output cost inflation eased amid efforts to attract new business. Finally, sentiment strengthened to the highest for nearly 12 years, buoyed by hopes that the recent loosening of Covid restrictions. source: Markit Economics

Services PMI in China averaged 51.96 points from 2012 until 2023, 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 February of 2023.

Services PMI in China is expected to be 50.80 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations.

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China Services PMI



Related Last Previous Unit Reference
Services PMI 52.90 48.00 points Jan 2023
Manufacturing PMI 49.20 49.00 points Jan 2023
Composite PMI 51.10 48.30 points Jan 2023

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.
Actual Previous Highest Lowest Dates Unit Frequency
52.90 48.00 58.40 26.50 2012 - 2023 points Monthly

News Stream
China Services Activity Returns to Growth
The Caixin China General Services PMI increased to 52.9 in January 2023 from 48.0 in December. This was the first growth in the service sector since last August, buoyed by the recent rollback of pandemic curbs and faster-than-expected peaking of infections.. New orders increased for the first time in five months. The modest upturn in new orders was supported by higher customer numbers, with new export business rising the most in 21 months. Meanwhile, employment fell at the softest pace in three months, with backlogs of work increasing at the fastest pace since May 2022. On prices, input cost inflation rose for the first time in five months, due to higher prices of raw material, staff and fuel expenses. Meanwhile, output cost inflation eased amid efforts to attract new business. Finally, sentiment strengthened to the highest for nearly 12 years, buoyed by hopes that the recent loosening of Covid restrictions.
2023-02-03
China Services Sector Shrinks at Softer Pace
The Caixin China General Services PMI increased to 48.0 in December 2022 from November’s six-month low of 46.7, signaling a softer decline in the sector, and pointing to the 4th straight month of drop, after the country removed its stringent zero-Covid policy. Both activity and new work shrank at softer rates, while outstanding business expanded at the fastest pace since May. Meanwhile, employment continued to fall, due to cost reduction policies and voluntary leavers, with the rate of job shedding was quicker than seen on average in 2022. Meantime, export orders fell for the second time in three months, amid ongoing Covid restrictions in some countries. On prices, input cost inflation eased to a six-month low, with expenses rising marginally overall. Also, firms registered a softer rise in selling prices to a four-month low. Finally, sentiment strengthened to a 17-month high, amid hopes the lifting of Covid restrictions and recovering demand.
2023-01-05
China Services Shrinks the Most in 6 Months
The Caixin China General Services PMI fell to 46.7 in November 2022 from 48.4 in October, pointing to the 3rd straight month of drop. This was also the steepest contraction in the service sector since May, amid anti-COVID containment measures that weighed on demand and operations. New orders fell the most in six months, employment shrank at the steepest rate since the survey began in November 2005, while backlogs rose at the fastest rate in six months. Meantime, export orders returned to growth as overseas demand picked up following an easing of international travel rules. On prices, input cost inflation eased for the third month in a row, and was among the weakest in over two years. Also, firms registered a slower rise in prices charged, with some of them citing efforts to boost sales. Finally, sentiment hit an eight-month low, significantly below its long-term average, amid concerns over how long it will take to contain the virus and the impact of curbs on their businesses.
2022-12-05