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.