The Official NBS Non-Manufacturing PMI rose to 53.6 in May 2020 from 53.2 in a month earlier. This was the third straight month of growth in the service sector and the strongest since January. New business grew faster (52.6 vs 52.1 in April) on the back of a slower rate in overseas sales (41.3 vs 35.5), with employment was little-changed (48.5 vs 48.6). Meantime, suppliers' delivery time lengthened further (52.9 vs 51.0). On the price front, input cost increased for the first time in four months (52.0 vs 49.0), while selling prices decreased the least since January (48.6 vs 45.4). Finally, sentiment strengthened noticeably (63.9 vs 60.1).
Non Manufacturing PMI in China averaged 55.43 percent from 2007 until 2020, reaching an all time high of 62.20 percent in May of 2007 and a record low of 29.60 percent in February of 2020. This page provides the latest reported value for - China Non Manufacturing PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. China Non Manufacturing PMI - data, historical chart, forecasts and calendar of releases - was last updated on June of 2020. source: National Bureau of Statistics of China
Non Manufacturing PMI in China is expected to be 48.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Non Manufacturing PMI in China to stand at 51.50 in 12 months time. In the long-term, the China Non Manufacturing PMI is projected to trend around 53.00 percent in 2021 and 52.90 percent in 2022, according to our econometric models.