China Services PMI

Last Release

Feb 28, 2023

Actual

Units In

Points

52.9

Frequency

Monthly

Next Release

Apr 06, 2023

Time to Release

13 Days 10 Hours

Highest	Lowest	Average	Date Range	Source
58.4 Jun 2020	26.5 Feb 2020	51.98 Points	2012-2023	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.

Latest Updates

The Caixin China General Services PMI climbed to 55.0 in February 2023, up from 52.9 in the previous month, to signal the fastest pace of expansion in activity since last August. New business rose the most since April 2021 and new export growth hit a near four-year high, as the relaxation of COVID-19 restrictions had helped to lift customer numbers and demand. In addition, employment levels rose for the first time in four months, with the pace of job creation accelerating to the strongest since November 2020, while backlogs of work accumulated at the softest rate since last October. On the price front, both input costs and prices charged rose only modestly. Finally, business sentiment remained highly, despite the degree of optimism slipping slightly from January's near 12-year high.