Caixin Services PMI
Services Continue to Approach Stagnation Too
Starts Wednesday, December 4, 2019 at 01:45
Updated Wednesday, December 4, 2019
Just like the manufacturing sector, services have been slowing in China as well although this sector didn't fall into contraction. In February services PMI declined to 51.1 points which is pretty close to inflation but it jumped in March to 54.4 points as that report showed. But, the declining trend resumed again and this indicator weakened in the following months, falling to 51.6 points in July. In August, Caixin manufacturing is expected to tick higher to 51.7 points which would be a positive sign, but the increasing trade war might have hurt this sector further. In October, Caixin services slowed further to 51.3 points and last month they fell to 51.1 points. So, it seems that services are being affected by the trade war indeed and services are suffering like manufacturing. Please follow us for live coverage of this event by experienced market analysts.
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About Caixin Services PMI
Level of a diffusion index based on surveyed purchasing managers in the services industry. Released monthly, on the third business day after the month ends. It's a leading indicator of economic health - businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy. Survey of about 400 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories.