China’s service activities grew at slower pace in Jun – private survey
DATA MACRO
China’s service activities grew at slower pace in Jun – private survey
DATA MACRO

China’s service activities grew at slower pace in Jun – private survey

 

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China’s Caixin Service PMI for June comes in at 53.9, compare to 57.1 in the previous month.

The Caixin Composite PMI, which tracks both manufacturing and service PMI, comes in at 52.5 in June, compared to 55.6 in the previous month.

China’s services sector continued to expand in Jun, but the growth rate slowed down, showe Caixin Service PMI.

The sub-indices for the sector’s business activities and new orders remained in expansion for the 6th straight month, but hitting the second-lowest and the lowest in six months. New export orders also stayed in the expansionary territory for the 6th straight month. 

The sub-index for employment in the services sector remained in expansion for the 5th straight month, the growth was moderate.

The service sector’s costs rose significantly in June, boosted by rising labor cost and higher raw material prices, and many companies raised prices to cope with the rising costs, though the price hikes were limited by market competitions.

The sector’s confidence picked up for the first time in five months and survey companies mostly believe the economy will improve in the next one year, which will support sales and business operation.