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.