The Caixin China General Services PMI plunged to 46.7 in August 2021 from 54.9 in the prior month. This was the first contraction in services activity since April 2020, amid a surge in the Delta strain of COVID-19 cases in some parts of the country. New orders shrank for the first time in 16 months, while employment fell for the second time in three months on the back of rising outstanding business. At the same time, new export business was broadly unchanged for the second month running. Prices data showed input prices rising modestly due to higher staffing costs and increased transport fees, while output price fell following a solid increase in July. Looking forward, confidence remained upbeat, though the degree of positive sentiment dipped from July and remained below the series average. source: Markit Economics

Services PMI in China averaged 52.29 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 September of 2021.

Services PMI in China is expected to be 51.00 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

Actual Previous Highest Lowest Dates Unit Frequency
46.70 54.90 58.40 26.50 2012 - 2021 points Monthly


News Stream
China Services PMI Sinks to 20-Month Low: Caixin
The Caixin China General Services PMI plunged to 46.7 in August 2021 from 54.9 in the prior month. This was the first contraction in services activity since April 2020, amid a surge in the Delta strain of COVID-19 cases in some parts of the country. New orders shrank for the first time in 16 months, while employment fell for the second time in three months on the back of rising outstanding business. At the same time, new export business was broadly unchanged for the second month running. Prices data showed input prices rising modestly due to higher staffing costs and increased transport fees, while output price fell following a solid increase in July. Looking forward, confidence remained upbeat, though the degree of positive sentiment dipped from July and remained below the series average.
2021-09-03
China Services Growth Accelerates Sharply: Caixin
The Caixin China General Services PMI climbed to 54.9 in July 2021 from a 14-month low of 50.3 in June, signaling a sharp and accelerated expansion of services activity amid the successful containment of the recent uptick in COVID-19 cases. New order growth accelerated from June's recent low, while employment rose slightly on the back of a renewed increase in backlogs of work. In the meantime, new export business was broadly stagnant as the pandemic continued to weigh on global demand. On the price front, the rate of input cost inflation quickened notably, while output charges posted the largest increase this year. Looking ahead, business sentiment picked up from June's nine-month low but remained softer than that seen on average over the series history.
2021-08-04
China Services Growth Slows to 14-Month Low: Caixin
The Caixin China General Services PMI fell to a 14-month low of 50.3 in June 2021 from 55.1 in the prior month, amid an outbreak of a more infectious Delta variant of COVID-19 in Guangdong and the subsequent imposition of anti-virus measures.. New orders grew the least since April 2020, while employment shrank for the first time in four months. Meantime, the gauge of new export business rose into positive territory, though the rate of expansion was marginal. Prices data showed inflationary pressure eased, with input cost inflation rising the least since September 2020 while output charges dropping for the first time in nearly a year. Looking ahead, sentiment remained strongly upbeat, though the degree of positive sentiment slipped to a nine-month low, amid concerns over the epidemic situation at home and abroad.
2021-07-05
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 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.