- Services PMI fell to 54.1 in June from 54.4 in May
- New export business grew at the fastest pace since October 2024
- Companies raised selling prices for the first time in four months
BEIJING, July 3 (Reuters) - China's services activity expanded at a slightly slower pace in June as growth in new business eased, though overseas demand rose at the fastest rate in 20 months, a private-sector survey showed on Friday.
The RatingDog China General Services Purchasing Managers' Index, compiled by S&P Global, fell to 54.1 from 54.4 in May, staying above the 50-mark that separates expansion from contraction.
The reading compared with an official survey released this week that showed services activity edging up slightly. The two surveys cover different samples.
-
New business growth slowed from May, though stronger overseas demand supported the overall rise in new work, with the new export business index increasing at the fastest pace since October 2024, the survey showed.
-
Companies raised their selling prices for the first time in four months and at the fastest clip in more than two years, even as input cost inflation slowed.
-
Service providers added jobs at a faster pace in response to improving demand.
-
Business confidence about activity over the coming year remained positive, though optimism softened.
-
The Composite Output Index eased to 53.6 in June from 54.0 in May.
Reporting by Liangping Gao and Ryan Woo; Editing by Sam Holmes
Source: Reuters