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.