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.

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China Services PMI

Actual Previous Highest Lowest Dates Unit Frequency
55.10 56.30 58.40 26.50 2012 - 2021 points Monthly


News Stream
China Services Growth Slows in May: Caixin
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.
2021-06-03
China Services Growth at 4-Month High: Caixin
The Caixin China General Services PMI increased to a four-month high of 56.3 in April 2021 from 54.3 in the prior month, amid the successful containment of COVID-19 and a further improvement in demand. New orders expanded at the fastest rate since last November on the back of a renewed upturn in export work; while employment rose further, with the rate of growth the fastest in five months. Prices gauges, meantime, remained at a high level and inflationary pressure heightened, as input cost rose faster due to increased staff and raw materials costs. Output charged also went up, though to a lesser extent than that seen for input costs. Looking ahead, confidence remained historically sharp, despite the level of positive sentiment slipped slightly from March's eight-year record.
2021-05-07
China Services PMI Rises to 3-Month High: Caixin
The Caixin China General Services PMI picked up to a three-month high of 54.3 in March 2021 from 51.5 in the previous month, amid a further recovery from the pandemic. The latest reading was also slightly higher than the series average, as domestic demand strengthened, with new orders expanding the most since December 2020. Also, employment returned to growth, while backlogs increased slightly following falls in the prior four months. Meantime, export orders fell for the second straight month, though the contraction was limited. On the cost front, inflationary pressure increased, with input rising for the ninth straight month while output prices expanding for the eight months in a row. Looking ahead, sentiment strengthened to its highest in over a decade amid hopes of post-pandemic recovery.
2021-04-06
China Services Activity Growth Slows to 10-Month Low
The Caixin China General Services PMI dropped to a ten-month low of 51.5 in February 2021 from 52.0 a month earlier, amid the COVID-19 crisis, and a recent rise in cases globally. New orders rose the least since May with export sales declining for the first time in four months, while employment fell again after a six-month period of growth. At the same time, there was another reduction in outstanding business, though the rate of depletion remained marginal. On the price front, input cost inflation was among the highest seen over the past decade, due to greater purchasing and staffing costs, while prices charged rose only modestly. Lastly, the degree of positive sentiment strengthened since January and was among the highest seen over the past eight years.
2021-03-03

China Services PMI
The Caixin China General Services PMI (Purchasing Managers' Index) is based on data compiled from monthly replies to questionnaires sent to purchasing executives in over 400 private service sector companies. The index tracks variables such as sales, employment, inventories and prices. A reading above 50 indicates that the services sector is generally expanding; below 50 indicates that it is generally declining.