The Caixin China General Services PMI rose to 55.5 in July 2022 from 54.5 in June, pointing to the second straight month of growth. The latest print was also the sharpest pace of expansion in the service sector since April 2021, amid further improvement in the COVID-19 situation after an easing of lockdown measures with new orders rising the most since October 2021. However, new export orders fell for the seventh straight month, and employment fell modestly amid a slight decline in backlogs of work. On prices, input costs were stable, as food prices and wages were higher, but the prices of some bulk commodities fell. Output charged, meanwhile, went up at a marginal rate that was similar to those seen in the prior two months. Finally, confidence was at its strongest since November 2021, lifted by hopes for a recovery in demand. “In general, the eased COVID situation and curbs facilitated a continuous recovery in the economy," said Dr. Wang Zhe, senior economist at Caixin Insight. source: Markit Economics
Services PMI in China averaged 52.05 points from 2012 until 2022, 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 August of 2022.
Services PMI in China is expected to be 52.00 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 50.50 points in 2023 and 52.00 points in 2024, according to our econometric models.