Chinese Caixin Services PMI Actual 51.1 (Forecast 51, Previous 50.7)

Chinese Caixin Services PMI Actual 51.1 (Forecast 51, Previous 50.7)

The Chinese Caixin Services PMI (Purchasing Managers' Index) for May 2025 came in at 51.1, falling short of the forecasted 51 and down from the previous reading of 50.7 [1]. This indicates a slight contraction in service sector activity, as the index below 50 signifies a decrease in growth.

The slowdown in the Caixin Services PMI is attributed to various factors, including the impact of prohibitive U.S. tariffs on China's export orders, which have been a significant drag on the economy. Additionally, ongoing trade tensions between the U.S. and China, as well as the broader global economic slowdown, have contributed to the decline in service sector activity.

The Caixin Services PMI is a closely watched indicator, providing insights into the health of the Chinese service sector, which accounts for a significant portion of the country's GDP. The latest data suggests that while the service sector remains resilient, it is facing headwinds from external factors.

References:
[1] https://www.cnbc.com/2025/06/03/asia-markets-live-updates.html