Loading page content
Data from FMP. Forecasts by Sigmanomics Forecast Engine.
ChinaChina HSBC Services PMI fell to 50.7 in January 2014
FMPMonthlyReleased February 2014
China HSBC Services PMI fell to 50.7 in January 2014, released February 2014, down 0.2 from December's 50.9 reading.
Latest Release
50.700000
Actual
—
Consensus
50.900000
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 Services PMI (China) was reported at 50.70 in February 2014. The reading fell from the previous value of 50.90. This is classified as a medium-impact indicator released on a monthly basis.
WHY IT MATTERS
The indicator has been trending downward over the last three releases.
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 NBS Non Manufacturing PMI (Jun 30) and NBS Manufacturing PMI (Jun 30).
Auto-generated from current model state · Refreshes on each release · Last update February 2014.
SHARE
HSBC Services PMI - CN
Loading chart data...
About HSBC Services PMI — China
DEFINITION
HSBC Services PMI is a leading economic indicator that measures the performance of the services sector in a country. It provides valuable insights into the health and growth of the services industry, which is a major contributor to a country's overall economic activity. The index is based on a monthly survey of purchasing managers in the services sector, and is widely used by businesses, investors, and policymakers to make informed decisions and forecasts. With its timely and accurate data, HSBC Services PMI is a crucial tool for monitoring and analyzing the state of the services sector and its impact on the economy.
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 (Jan 2014): actual 50.7. Prior reading (Jan 2014): 50.9. Before that (Jan 2014): 50.9.
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.
Σ
EXPECTED ZONE
SIGMANOMICS MARKET FORECAST ENGINE
Multi-horizon symbol forecasts, Rolling-Surprise economic predictions, and programmatic API access.
Expected Zones · Trade Bias · Confidence Intervals · API Access · 1,456+ instruments
FOREXCRYPTOSTOCKSCOMMODITIESINDICESAPI
BLSBEAFMPWORLD BANKFRED
1,456+ instruments247 indicators530+ correlationsREST + GQL API
4,151 economic indicators127 countries covered6 data sources
FREDBLSEIAECBBOJFMP
Economic Calendar - CN Events
| Tuesday, June 30, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 01:30 | CN | NBS Non Manufacturing PMI | 50.1 | 50.5 | 50.60 | Medium | |
| 01:30 | CN | NBS General PMI | 50.5 | 50.7 | 50.85 | Low | |
| 01:30 | CN | NBS Manufacturing PMI | 50 | 50.3 | 50.45 | High | |
| Wednesday, July 1, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 01:45 | CN | S&P Global Manufacturing PMI | 51.8 | 51.4 | 51.40 | High | |