The Caixin China General Services PMI fell to 56.3 in December 2020 from a more than a decade-high of 57.8 in November, amid ongoing recovery in consumer demand after the country curbed its COVID-19 outbreak. New order growth eased, while export sales rose modestly. At the same time, employment increased for the fifth straight month, which helped to reduce levels of backlogged work. Prices data revealed a further sharp rise in input costs, which led firms to increase their output charges at the steepest rate since January 2008. Looking ahead, business confidence improved to the highest since April 2011 due to hopes of a further rebound in global economic conditions. source: Markit Economics

Services PMI in China averaged 52.27 points from 2012 until 2020, 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 January of 2021.

Services PMI in China is expected to be 53.00 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 52.20 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
56.30 57.80 58.40 26.50 2012 - 2020 points Monthly


News Stream
China Services Growth Remains Solid: Caixin
The Caixin China General Services PMI fell to 56.3 in December 2020 from a more than a decade-high of 57.8 in November, amid ongoing recovery in consumer demand after the country curbed its COVID-19 outbreak. New order growth eased, while export sales rose modestly. At the same time, employment increased for the fifth straight month, which helped to reduce levels of backlogged work. Prices data revealed a further sharp rise in input costs, which led firms to increase their output charges at the steepest rate since January 2008. Looking ahead, business confidence improved to the highest since April 2011 due to hopes of a further rebound in global economic conditions.
2021-01-06
China Services Activity Soars in November: Caixin
The Caixin China General Services PMI rose to 57.8 in November 2020 from 56.8 in October, pointing to the second fastest growth in services activity in over a decade, amid a further recovery in consumer demand after the country curbed its COVID-19 outbreak. New orders expanded for the seventh month in a row, touching the highest level since April 2010. Also, new export orders advanced for the first time in five months and employment rose at the strongest rate since October 2010. On the cost front, inflation pressure became evident. The measures for input prices and prices that businesses charged both rose further into expansionary territory, hitting the highest readings since August 2010 and February 2010, respectively. Looking ahead, sentiment reached the highest point since April 2011.
2020-12-03
China Services Growth Accelerates in October
The Caixin China General Services PMI rose to 56.8 in October 2020, signaling a strong rate of growth in services output, and the second-fastest expansion since August 2010 as the economy continued to recovery from the COVID-19 pandemic. The pace of increase in new orders was the third-steepest since September 2010, despite a renewed fall in export sales, and employment rose the most in over a year. At the same time, outstanding workloads rose slightly, with the rate of accumulation having softened since September. On the price front, input cost inflation hit its highest in over two years, amid reports of higher staff and purchasing costs. Meantime, efforts to remain competitive led firms to raise their output prices slightly. Looking ahead, business sentiment strengthened to the highest level since April 2012.
2020-11-04
China Services Growth Accelerates: Caixin
The Caixin China General Services PMI rose to 54.8 in September 2020 from 54.0 a month earlier. This was the fifth straight month of growth in the sector and the steepest since June, amid a further recovery from the COVID-19 pandemic. New orders expanded faster, mainly led by domestic demand; and employment grew for the second month in a row. Meanwhile, new export orders remained in contractionary territory for seven of the last eight months. At the same time, backlogs of work have risen in three of the past four months. As for prices, input cost inflation dipped to a three-month low, while prices charged rose for the second straight month, but at a softer rate. Looking ahead, confidence remained strongly positive.
2020-10-09

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.