The Caixin China General Services PMI fell to 55.1 in May 2021 from a four-month high of 56.3 in the prior month, as COVID cases abroad hurt business activity. Still, the latest reading pointed to the 13th straight month of increase in the sector, with new order growth easing but remaining robust, while employment rising for the third month in a row. At the same time, export orders shrank for the third time in four months. Meanwhile, backlogs of work accumulated the most in over a year. Cost pressures continued to build, amid higher prices for raw materials, energy, staff, and transport. Notably, the rate of input cost inflation was the highest since November 2020. Prices charged, meantime increased again, with the rate of inflation the quickest so far this year. Finally, confidence was strongly positive, though the overall degree of optimism edged down to a four-month low. source: Markit Economics
Services PMI in China averaged 52.34 points from 2012 until 2021, 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 June of 2021.
Services PMI in China is expected to be 54.90 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 52.00 in 12 months time. In the long-term, the China Services PMI is projected to trend around 51.50 points in 2022, according to our econometric models.