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.