The Caixin China General Services PMI declined to 52.1 in November 2021 from 53.8 in the prior month, pointing to the weakest growth in three months, amid a rise in COVID-19 infections. Business activity and new orders expanded at the slowest pace in three months and only marginal overall, and export sales remained mild, while employment rose for the third month in a row and the fastest rate since May. On the cost front, input price inflation accelerated to a six-month high on rising in labour, raw materials, and energy costs. Meanwhile, output prices inflation slowed, due to softer in demand conditions. Looking forward, business sentiment strengthened on expectations that the pandemic will be brought under control globally and demand conditions will improve. “ The resurgence of local Covid-19 outbreaks had a bigger impact on demand than on supply,” Wang Zhe, Senior Economist at Caixin Insight Group said. source: Markit Economics

Services PMI in China averaged 52.32 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 December of 2021.

Services PMI in China is expected to be 50.20 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. 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


Related Last Previous Unit Reference
Services PMI 52.10 53.80 points Nov/21
Manufacturing PMI 49.90 50.60 points Nov/21
Composite PMI 51.20 51.50 points Nov/21

News Stream
China Services PMI Falls to 3-Month Low
The Caixin China General Services PMI declined to 52.1 in November 2021 from 53.8 in the prior month, pointing to the weakest growth in three months, amid a rise in COVID-19 infections. Business activity and new orders expanded at the slowest pace in three months and only marginal overall, and export sales remained mild, while employment rose for the third month in a row and the fastest rate since May. On the cost front, input price inflation accelerated to a six-month high on rising in labour, raw materials, and energy costs. Meanwhile, output prices inflation slowed, due to softer in demand conditions. Looking forward, business sentiment strengthened on expectations that the pandemic will be brought under control globally and demand conditions will improve. “ The resurgence of local Covid-19 outbreaks had a bigger impact on demand than on supply,” Wang Zhe, Senior Economist at Caixin Insight Group said.
2021-12-03
China Services PMI Rises to 3-Month High
The Caixin China General Services PMI increased to 53.8 in October 2021 from 53.4 in the prior month, pointing to the second straight month of expansion in the service sector and the steepest pace since July as COVID-19 outbreaks eased. New orders expanded the most in three months, export sales returned to growth, and employment rose for the second month in a row. Meantime, backlogs of work were unchanged following a three-month sequence of accumulation. On the cost front, input prices rose for the 16th straight month and increased at the fastest pace in three months on rising labor, and raw material costs; while output cost inflation accelerated to the quickest since July. Looking forward, sentiment weakened to a four-month low, due to concerns over rising costs and supply chain disruption.
2021-11-03
China Services Sector Rebounds
The Caixin China General Services PMI jumped to 53.4 in September 2021 from 46.7 in the prior month, moving away from the lowest level seen since the height of the pandemic last year. Both new orders and employment bounced back to the expansionary territory, as a major COVID-19 outbreak in the eastern province of Jiangsu eased. At the same time, outstanding business continued to increase, but at a slower pace. Meanwhile, new export sales shrank again, with the sub-index hitting its lowest in seven months due to the surging pandemic overseas. On the cost front, input prices rose for the 15th straight month and increased at a faster pace, on rising labor, freight, and raw material costs. Meantime, prices charged went up after falling in August. Looking forward, sentiment remained optimistic, with the gauge of business expectations rising further into positive territory, though remaining below its long-term average.
2021-10-08

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.