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.