The Caixin China General Services PMI unexpectedly declined to 51.0 in January 2025, down from December’s seven-month high of 52.2, and below market forecasts of 52.3. The latest reading marked the softest expansion in the services sector since September, as new business growth eased to a four-month low, employment fell the most since April 2024, and selling price inflation slowed. Sales growth was driven by higher domestic demand and new foreign sales after export orders had fallen in December. Meanwhile, employment declined for the second straight month due to resignations and redundancies. On prices, input price inflation accelerated to a three-month high due to higher raw material and labor costs. As a result, selling prices increased for the 2nd consecutive month, though at a slower pace than in December, due to the support for sales. Finally, sentiment improved but remained below average amid concerns over heightened competition and the impact of trade uncertainties on demand. source: S&P Global
Services PMI in China decreased to 51 points in January from 52.20 points in December of 2024. Services PMI in China averaged 52.09 points from 2012 until 2025, 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.
Services PMI in China decreased to 51 points in January from 52.20 points in December of 2024. Services PMI in China is expected to be 51.30 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 52.50 points in 2026, according to our econometric models.