China Services PMI

The Caixin China Services PMI stood at 51.2 in May of 2016, down from 51.8 in April and missing market consensus. It was the weakest reading since March as new orders rose at a slower pace and less than the historical average while job creation eased to marginal rate. Meanwhile, business expectations dropped to the lowest in five months but most respondents remained optimistic. “The government needs to continue to push forward stabilising measures to help the economy recover. It should also relax the control and regulation of the services sector to enable it to realize its growth potential and to facilitate the transformation and healthy development of the economy, ” Director of Macroeconomic Analyst at CEBM Group, Zhengseng Zhong, said. Services PMI in China averaged 52.30 Index Points from 2012 until 2016, reaching an all time high of 54.70 Index Points in May of 2012 and a record low of 50 Index Points in July of 2014. Services PMI in China is reported by Markit Economics. 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. 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.