The Caixin China Services Purchasing Managers' Index (PMI) provides an early snapshot of operating conditions in the Chinese services sector. Unlike the official NBS data, this survey focuses more on small to medium-sized private enterprises, offering a different perspective on the economy. It is a key indicator of domestic demand and the health of the broader Chinese service industry. A reading above 50 indicates expansion, while a reading below 50 indicates contraction.
The index is derived from monthly survey responses from over 650 private and state-owned services companies. It covers variables such as sales, employment, inventories, and prices, which are then weighted into a single figure.
| Date | Actual | Forecast | Surprise |
|---|---|---|---|
| Jan 6, 2026 | 52.00 | 52.00 | 0.00 |
| Dec 3, 2025 | 52.10 | 52.10 | 0.00 |
| Nov 5, 2025 | 52.60 | 52.50 | +0.10 |
| Sep 30, 2025 | 52.90 | 52.30 | +0.60 |
| Sep 3, 2025 | 53.00 | 52.50 | +0.50 |
| Aug 5, 2025 | 52.60 | 50.40 | +2.20 |
| Jul 3, 2025 | 50.60 | 51.00 | -0.40 |
| Jun 5, 2025 | 51.10 | 51.10 | 0.00 |
| May 6, 2025 | 50.70 | 51.70 | -1.00 |
| Apr 3, 2025 | 51.90 | 51.60 | +0.30 |
| Mar 5, 2025 | 51.40 | 50.80 | +0.60 |
| Feb 5, 2025 | 51.00 | 52.30 | -1.30 |
| Jan 6, 2025 | 52.20 | 51.70 | +0.50 |
| Dec 4, 2024 | 51.50 | 52.50 | -1.00 |
| Nov 5, 2024 | 52.00 | 50.50 | +1.50 |
| Sep 30, 2024 | 50.30 | 51.50 | -1.20 |
| Sep 4, 2024 | 51.60 | 52.20 | -0.60 |
| Aug 5, 2024 | 52.10 | 51.40 | +0.70 |
| Jul 3, 2024 | 51.20 | 53.40 | -2.20 |
| Jun 5, 2024 | 54.00 | 52.60 | +1.40 |
| May 6, 2024 | 52.50 | 52.50 | 0.00 |
| Apr 3, 2024 | 52.70 | 52.70 | 0.00 |
| Mar 5, 2024 | 52.50 | 53.40 | -0.90 |
| Feb 5, 2024 | 52.70 | 52.90 | -0.20 |
| Jan 4, 2024 | 52.90 | 51.60 | +1.30 |
| Dec 5, 2023 | 51.50 | 51.00 | +0.50 |
| Nov 3, 2023 | 50.40 | 50.40 | 0.00 |
| Oct 1, 2023 | 50.20 | 52.60 | -2.40 |
| Sep 5, 2023 | 51.80 | 53.60 | -1.80 |
| Aug 3, 2023 | 54.10 | 52.50 | +1.60 |
| Jul 5, 2023 | 53.90 | 56.50 | -2.60 |
| Jun 5, 2023 | 57.10 | 55.00 | +2.10 |
| May 5, 2023 | 56.40 | 58.00 | -1.60 |
| Apr 6, 2023 | 57.80 | 54.80 | +3.00 |
| Mar 3, 2023 | 55.00 | 53.80 | +1.20 |
| Feb 3, 2023 | 52.90 | 52.00 | +0.90 |
| Jan 5, 2023 | 48.00 | 44.50 | +3.50 |
| Dec 5, 2022 | 46.70 | 47.00 | -0.30 |
| Nov 3, 2022 | 48.40 | 49.10 | -0.70 |
| Oct 8, 2022 | 49.30 | 54.80 | -5.50 |
| Sep 5, 2022 | 55.00 | 51.00 | +4.00 |
| Aug 3, 2022 | 55.50 | 55.20 | +0.30 |
| Jul 5, 2022 | 54.50 | 49.10 | +5.40 |
| Jun 6, 2022 | 41.40 | 43.00 | -1.60 |
| May 5, 2022 | 36.20 | — | — |
| Apr 6, 2022 | 42.00 | 49.30 | -7.30 |
| Mar 3, 2022 | 50.20 | 52.00 | -1.80 |
| Feb 7, 2022 | 51.40 | 51.00 | +0.40 |
| Jan 6, 2022 | 53.10 | 52.20 | +0.90 |
| Dec 3, 2021 | 52.10 | 53.00 | -0.90 |
