China Services PMI for February 55.0 (vs. 54.7 expected)

Caixin / S&P Global PMIs from China for February 2023.

• Services 55 (expected 54.7, prior 52.9). The 55 result is a 5 month high
• Composite 54.2 (prior 51.1)

Key findings highlighted in the report:

• Services companies see steeper increases in activity and new work
• Employment expands at quickest rate since November 2020
• Inflationary pressures remain muted

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Earlier:

• China Caixin Manufacturing PMI comes in at 51.6 in February (prior 49.2)

• China official February PMIs: Manufacturing 52.6 (prior 50.1) Services 56.3 (prior 54.4)

The privately surveyed PMIs from China, those from Caixin / S&P Global, are not the same as the official PMIs.

These are different surveys, there is a greater representation of large and SEO firms in the official PMIs.

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