The official NBS Non-Manufacturing PMI for China increased to 56.3 in February 2023 from 54.4 a month earlier, pointing to the highest reading since March 2021, boosted by the removal of a zero-COVID policy. The latest result also marked the second straight month of expansion in the service sector, as new orders expanded for the second successive month and at a faster rate (55.8 vs 52.5 in January), while both foreign sales (51.9 vs 45.9) and employment (50.2 vs 46.7) rose after months of contraction. Meanwhile, delivery time notably improved (55.2 vs 49.7), as mobility and logistics returned to normal across the mainland. On inflation, input cost slowed slightly (51.1 vs 51.5) while output prices went up for the first time in eleven months (50.8 vs 48.3). Lastly, sentiment remained upbeat, with the reading staying at a high level (at 64.9). source: National Bureau of Statistics of China
Non Manufacturing PMI in China averaged 54.89 percent from 2007 until 2023, 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 March of 2023.
Non Manufacturing PMI in China is expected to be 54.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations.