April PMI data signalled a sharp expansion of Chinese service sector business activity, that was supported by the strongest rise in overall new work for five months. In order to meet rising customer demand businesses increased their staff numbers at a faster rate, which helped to alleviate pressure on capacity. Input costs meanwhile rose solidly, which prompted firms to raise their prices charged again. Although easing from March's recent record, optimism around the 12-month business outlook remained marked, partly driven by expectations that business conditions at home and abroad will continue to recover from the ... (full story)