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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
ChinaChina Services PMI climbed to 56.7 in February 2026
FMPMonthlyReleased March 2026
China Services PMI climbed to 56.7 in February 2026, released March 2026, up 4.4 from January's 52.3 reading. The print exceeded the 51.7 consensus by 5. Services PMI has now risen for 3 consecutive months. Over the past 3 months, Services PMI averaged 52.15, vs 52.53 in the prior 3-month window. Services PMI is now the highest in 6 months.
Latest Release
56.7
Actual
51.7
Consensus
52.3
Previous
Median Absolute Error
±0.13
across last 7 releases
Last Call
Mar 2026
Predicted: 51.95
Actual: 56.7
Error: -4.75
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| AUD/USD | ▲ Direct | +0.89 | FOREX | Moves with | → View |
| USD/CNH | ▼ Inverse | −0.81 | FOREX | Moves against | → View |
| BTC/USD | ▲ Direct | +0.60 | CRYPTO | Moves with | → View |
| USD/CNY | ▼ Inverse | −0.47 | FOREX | Moves against | → View |
| XAU/USD | ▲ Direct | +0.39 | COMMODITIES | Moves with | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Services PMI (China) was reported at 56.70 in March 2026. This beat the market consensus of 51.70 by 5.00. The reading rose from the previous value of 52.30. Trailing 12-month context per ETL data through March 2026. Over the past 12 months, the indicator has averaged 53.09, ranging from 52.00 to 56.70 across 7 releases. This is classified as a medium-impact indicator released on a monthly basis.
WHY IT MATTERS
The indicator has been trending upward over the last three releases. The trailing three releases averaged 53.67, up from the prior three at 52.53.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with AUD/USD (Bullish AUD). A secondary relationship exists with USD/CNH, negatively correlated (Bearish USD). Over the last 7 releases, the Sigmacast model's median absolute error is 0.13.
Auto-generated from current model state · Refreshes on each release · Last update March 2026.
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Services PMI - CN
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About Services PMI — China
DEFINITION
Services PMI (Purchasing Managers' Index) is a key economic indicator that measures the performance of the services sector in a country. It provides valuable insights into the health of the economy by tracking changes in business activity, new orders, employment, and prices. A high Services PMI indicates a growing services sector, while a low PMI suggests a contraction. This indicator is closely monitored by investors, policymakers, and businesses to make informed decisions and assess the overall economic outlook.
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 (Feb 2026): actual 56.7, consensus 51.7. Prior reading (Jan 2026): 52.3. Before that (Dec 2025): 52.
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 bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with AUD/USD (Bullish AUD, r=0.89) — a useful reference for forex-focused traders.
Σ
EXPECTED ZONE
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Economic Calendar - CN Events
| Monday, July 20, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 01:15 | CN | Loan Prime Rate 5Y | 3.5 | 3.5 | 3.5 | 3.50 | Medium |
| 01:15 | CN | Loan Prime Rate 1Y | 3 | 3 | 3 | 3.00 | Medium |