The Caixin China General Services PMI fell to 54.1 in July 2020 from an over 10-year high of 58.4 in June, pointing to the slowest expansion in the current three-month sequence of post-COVID recovery. New export business dropped sharply into contraction territory as the pandemic continued to hit other nations hard. Also, employment fell for the sixth consecutive month. Meantime, new orders rose for the third month in a row, maintaining its strong momentum; while outstanding business increased for the second straight month. On the price front, input costs rose while the prices that service providers charged customers declined slightly. Finally, sentiment strengthened to an over five-year high.

Services PMI in China averaged 52.09 points from 2012 until 2020, 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 August of 2020. source: Markit Economics

Services PMI in China is expected to be 51.00 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 50.00 in 12 months time. In the long-term, the China Services PMI is projected to trend around 52.20 points in 2021 and 51.50 points in 2022, according to our econometric models.

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China Services PMI

Actual Previous Highest Lowest Dates Unit Frequency
54.10 58.40 58.40 26.50 2012 - 2020 points Monthly


News Stream
China Services Sector Expands at a Softer Pace
The Caixin China General Services PMI fell to 54.1 in July 2020 from an over 10-year high of 58.4 in June, pointing to the slowest expansion in the current three-month sequence of post-COVID recovery. New export business dropped sharply into contraction territory as the pandemic continued to hit other nations hard. Also, employment fell for the sixth consecutive month. Meantime, new orders rose for the third month in a row, maintaining its strong momentum; while outstanding business increased for the second straight month. On the price front, input costs rose while the prices that service providers charged customers declined slightly. Finally, sentiment strengthened to an over five-year high.
2020-08-05
China Services Growth Highest in Over A Decade
The Caixin China General Services PMI jumped to 58.4 in June 2020 from 55.0 in the previous month, pointing to the strongest growth in services activity since April 2010, widely attributed to the recent easing of virus-related restrictions and stronger demand conditions. New orders grew the most in nearly a decade as companies reported that greater customer numbers were resuming more normal business operations. In addition, export sales rose for the first time since January, amid improving global demand. Meantime, employment fell further generally linked to voluntary leaver and outstanding workloads went up for the first time in four months. On the price front, input cost dropped slightly, mainly due to lower staff-related costs while prices charged were broadly unchanged ending a six-month period of decline. According to respondents, competition for new work continued to limit overall pricing power. Looking ahead, business sentiment hit a three-year high.
2020-07-03
China Service Sector Rebounds Sharply
The Caixin China General Services PMI jumped to 55.0 in May 2020 from 44.4 in the previous month, pointing to the first month of growth in the service sector since January and the fastest since October 2010, as the economy recovers from strict coronavirus-led containment measures. New orders rose the most since September 2010, boosted by stronger domestic demand, while new export orders fell markedly as many key markets imposed public health measures to fight the pandemic. Meanwhile, employment declined again on signs of spare capacity and efforts to raise efficiency. On the price front, average input prices were broadly unchanged for the second month running, while output charges continued to fall as firms sought to stimulate sales. Looking ahead, sentiment remained strong, despite softening from the previous month.
2020-06-03
China Service Sector Contracts for 3rd Month
The Caixin China General Services PMI rose to 44.4 in April 2020 from 43.0 in the previous month, pointing to the third straight month of contraction in the sector due to weakening demand both at home and abroad amid the COVID-19 pandemic. New orders fell at a slower rate despite a near record fall in exports, and employment declined the most since data collection began in late-2005. On the price front, input costs were broadly stable in April, as firms discounted their selling prices again as part of attempts to boost new orders. Looking ahead, confidence picked up to a three-month high amid hopes of a recovery in conditions once the pandemic situation improves.
2020-05-07

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.