China Caixin / S&P PMI for May 2025

Services 51.1

  • expected 51.0, prior 50.7
  • overall demand and business confidence improved
  • foreign demand contracted for the first time this year
  • new export business contracted marginally, the first time since December
  • job market posted a slight expansion in May, breaking a two-month contraction, with the corresponding gauge hitting a six-month high
  • input costs grew at their quickest pace in seven months due to rising purchasing prices and labor costs
  • prices charged to customers fell for the fourth straight month
china services pmi May 2025 2

Composite 49.6, dragged down by the soft manufacturing PMI (China Caixin May 2025 Manufacturing PMI 48.3 (prior 50.4!))

  • prior 51.1
  • 49.6 is the lowest since December 2022
Source: Forex Live