The Caixin China General Services PMI increased to a four-month high of 56.3 in April 2021 from 54.3 in the prior month, amid the successful containment of COVID-19 and a further improvement in demand. New orders expanded at the fastest rate since last November on the back of a renewed upturn in export work; while employment rose further, with the rate of growth the fastest in five months. Prices gauges, meantime, remained at a high level and inflationary pressure heightened, as input cost rose faster due to increased staff and raw materials costs. Output charged also went up, though to a lesser extent than that seen for input costs. Looking ahead, confidence remained historically sharp, despite the level of positive sentiment slipped slightly from March's eight-year record. source: Markit Economics
Services PMI in China averaged 52.31 points from 2012 until 2021, 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 May of 2021.
Services PMI in China is expected to be 52.90 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 52.00 in 12 months time. In the long-term, the China Services PMI is projected to trend around 51.50 points in 2022, according to our econometric models.