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Caixin China General Services PMI: Service activity growth softens to slowest pace in eight months
China's service economy continued to expand into the end of the second quarter of 2024, supported by rising new and export business. That said, rates of expansions eased in June. This contributed to a reduction in optimism levels. Firms were also cautious about hiring additional staff, even as backlogs accumulated at the fastest pace in just over two years. Price pressures meanwhile eased with firms raising their charges only fractionally. This was amidst falling input cost inflation in June. The seasonally adjusted headline Caixin China General Services Business Activity Index posted 51.2 in June, down from 54.0 in ... (full story)
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- Posted: Jul 2, 2024 9:45pm
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