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S&P Global China General Services PMI: Services activity rises at fastest pace since May 2024
China’s service sector expanded at a stronger pace at the start of the third quarter, according to latest PMI® data. Services activity rose at a quicker pace due to rising inflows of new business, which were in turn supported by a fresh rise in foreign demand. Business sentiment also improved to the highest level since March. Higher workloads and rising confidence led services firms to hire additional staff in July. An expansion of workforce capacity meanwhile led to a softer accumulation of backlogged work. Turning to prices, average input costs and output charges both increased marginally. Nevertheless, this ... (full story)
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