The Official NBS Non-Manufacturing PMI edged down to 54.2 in July 2020 from 54.4 in the prior month. Still, this marked the fifth consecutive month of growth in the service sector, suggesting consumer confidence is recovering even as the country sees another round of COVID-19 cases in some parts of its regions, with new business continuing to expand (51.5 vs 52.7). Meantime, both overseas sales (44.5 vs 43.3) and employment (48.1 vs 48.7) declined further, amid a slight lightening in the suppliers' delivery time (51.9 vs 52.1). On the price front, input cost increased for the third month in a row and at the steepest rate since January (53.0 vs 52.9), and selling prices rose the most since the start of the year (50.1 vs 49.5). Finally, sentiment strengthened markedly (62.2 vs 60.3).
Non Manufacturing PMI in China averaged 55.42 percent from 2007 until 2020, 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 August of 2020. source: National Bureau of Statistics of China
Non Manufacturing PMI in China is expected to be 51.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Non Manufacturing PMI in China to stand at 50.40 in 12 months time. In the long-term, the China Non Manufacturing PMI is projected to trend around 53.00 percent in 2021 and 52.90 percent in 2022, according to our econometric models.