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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
ChinaChina HSBC China Services PMI climbed to 53 in November 2014
FMPMonthlyReleased December 2014
China HSBC China Services PMI climbed to 53 in November 2014, released December 2014, up 0.1 from October's 52.9 reading. The reading matched the 52.5 consensus. Over the past 3 months, HSBC China Services PMI averaged 53.2, vs 52.4 in the prior 3-month window. The reading is in the 72nd percentile of the trailing 24-month range.
Latest Release
53
Actual
52.5
Consensus
52.9
Previous
Sigmacast Track Record
Sigmacast track record will appear here once this indicator has been released 3+ times since Sigmanomics began tracking.
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| USD/CNY | ▼ Inverse | −0.50 | FOREX | Bullish CNY | → View |
| AUD/USD | ▲ Direct | +0.45 | FOREX | Bullish AUD | → View |
| Copper | ▲ Direct | +0.40 | COMMODITIES | Watch | → View |
| XAU/USD | ▲ Direct | +0.35 | COMMODITIES | Watch | → View |
| EUR/USD | ▲ Direct | +0.30 | FOREX | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
HSBC China Services PMI (China) was reported at 51.80 in July 2015. The reading fell from the previous value of 53.50. This is classified as a medium-impact indicator released on a monthly basis.
WHY IT MATTERS
The trailing three releases averaged 52.73, up from the prior three at 52.03.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with USD/CNY (Bullish CNY). A secondary relationship exists with AUD/USD, positively correlated (Bullish AUD).
WHAT TO WATCH NEXT
Same-country events in the next 14 days include Loan Prime Rate 5Y (Jun 22) and Loan Prime Rate 1Y (Jun 22).
Auto-generated from current model state · Refreshes on each release · Last update July 2015.
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HSBC China Services PMI - CN
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About HSBC China Services PMI — China
DEFINITION
The HSBC China Services PMI is a widely recognized financial indicator that measures the performance of the Chinese services sector. It provides valuable insights into the country's economic health by tracking changes in business activity, new orders, employment, and prices. This indicator is closely monitored by investors, policymakers, and businesses as it reflects the overall growth and stability of the Chinese economy. With its timely and accurate data, the HSBC China Services PMI is a crucial tool for making informed decisions in the financial world.
WHY THIS INDICATOR MATTERS
Sentiment surveys are forward-looking inputs that often lead hard data on output and hiring. Sharp swings can drive cross-asset repricing. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Jun 2015): actual 51.8. Prior reading (May 2015): 53.5. Before that (Apr 2015): 52.9.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection. This indicator correlates most strongly with USD/CNY (Bullish CNY, r=-0.50) — a useful reference for forex-focused traders.