The Caixin China General Services PMI was down to 52.5 in April 2024 from 52.7 in March, matching forecasts. It was the 16th straight month of growth in services activity, with new business growing the most in nearly a year, boosted by the latest rise in activity and an improvement in confidence. New order growth accelerated to the fastest since May 2023 amid improved demand conditions and a broadening of customer bases, with foreign sales rising the most in 10 months, lifted by increasing tourism activity. Employment fell for the 3rd straight month due to resignations and redundancies, while backlogs of work remained unchanged. On the cost side, input cost inflation accelerated due to higher raw materials, labor, and energy costs despite being below the series average. Meanwhile, output price inflation rose above the series average as firms sought to share rising cost burdens with clients. Finally, sentiment improved to a four-month high amid hopes of improvement in market prospects. source: S&P Global
Services PMI in China decreased to 52.50 points in April from 52.70 points in March of 2024. Services PMI in China averaged 52.11 points from 2012 until 2024, 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 May of 2024.
Services PMI in China decreased to 52.50 points in April from 52.70 points in March of 2024. Services PMI in China is expected to be 52.10 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 52.00 points in 2025, according to our econometric models.