The Caixin China General Services PMI fell to a three-month low of 53.0 in August 2022 from 54.0 in July, due to the recent wave of COVID infections and energy shortages following the historic drought. While down for the second month running, the latest result signaled a solid growth in the private sector, with services activity continuing to outperform manufacturing though in both cases rates of rise softened since July. New order growth was at a three-month low as a fresh drop in manufacturing orders was offset by a solid rise in new business at service providers. Meantime, employment continued to fall modestly, amid mild falls in headcounts at both manufacturing and services activity. Prices data signaled the slowest rise in 27 months, while output charges fell for the second month running. "Right now, the economy is slowly recovering from a widespread outbreak of COVID in H1 the year, though it remains under pressure," said Dr. Wang Zhe, senior economist at Caixin Insight Group. source: Markit Economics

Composite PMI in China averaged 51.26 points from 2013 until 2022, reaching an all time high of 57.50 points in November of 2020 and a record low of 27.50 points in February of 2020. This page provides - China Composite Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news. China Composite PMI - data, historical chart, forecasts and calendar of releases - was last updated on October of 2022.

Composite PMI in China is expected to be 53.10 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the China Composite PMI is projected to trend around 50.60 points in 2023, according to our econometric models.

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China Composite PMI



Related Last Previous Unit Reference
Manufacturing PMI 48.10 49.50 points Sep 2022
Services PMI 55.00 55.50 points Aug 2022
Composite PMI 53.00 54.00 points Aug 2022

China Composite PMI
In China, the Caixin China Composite Output Index tracks business trends across private sector activity, based on data collected from a representative panel of around 400 companies. The index tracks variables such as sales, new orders, employment, inventories and prices. A reading above 50 indicates expansion in business activity and below 50 indicates that it is generally declining.
Actual Previous Highest Lowest Dates Unit Frequency
53.00 54.00 57.50 27.50 2013 - 2022 points Monthly
SA

News Stream
China Composite PMI Lowest in 3 Months
The Caixin China General Services PMI fell to a three-month low of 53.0 in August 2022 from 54.0 in July, due to the recent wave of COVID infections and energy shortages following the historic drought. While down for the second month running, the latest result signaled a solid growth in the private sector, with services activity continuing to outperform manufacturing though in both cases rates of rise softened since July. New order growth was at a three-month low as a fresh drop in manufacturing orders was offset by a solid rise in new business at service providers. Meantime, employment continued to fall modestly, amid mild falls in headcounts at both manufacturing and services activity. Prices data signaled the slowest rise in 27 months, while output charges fell for the second month running. "Right now, the economy is slowly recovering from a widespread outbreak of COVID in H1 the year, though it remains under pressure," said Dr. Wang Zhe, senior economist at Caixin Insight Group.
2022-09-05
China Private Sector Growth Stays Robust
The Caixin China General Services PMI fell to 54.0 in July 2022 from June's 18-month peak of 55.3. Still, the latest result signaled a solid expansion in the private sector, with services activity rising faster amid a marked slowdown in manufacturing expansion. New order growth accelerated slightly, while quicker falls in employment across both manufacturing and service sectors led to the fastest drop in composite employment in 17 months. Prices data pointed to the softest rise in overall input costs for just over two years, while output charges fell slightly amid price discounting at manufacturers. “Major macroeconomic indicators in Q2 showed that the short-term shock of the latest round of COVID-19 outbreaks was fading. The third quarter will therefore be a crucial period to get the economy back on track," said Dr. Wang Zhe, senior economist at Caixin Insight Group.
2022-08-03
China Composite PMI Hits 18-Month Peak
The Caixin China General Composite PMI jumped to 55.3 in June of 2022 from 42.2 in May, signaling a renewed growth in the private sector which was the steepest pace since December 2020, amid improving COVID-19 situation and the implementation of a package of measures to support a recovery in the economy. Both manufacturers and service providers saw renewed and strong upturns in output as operations resumed. New orders increased at the fastest pace since October 2021, and export sales grew the most in 19 months. However, employment fell marginally, while backlogs of work remained unchanged. Prices data showed a further easing in the rate of input price inflation, which hit the weakest since September 2020, while prices charged were unchanged. “Restoration in the post-pandemic era remained the focus of the current economy, yet its foundation still had some weaknesses," said Dr. Wang Zhe, Senior Economist at Caixin Insight Group.
2022-07-05