Caixin China Services PMI breakdown
The services sector expanded in an eighteenth consecutive month, albeit at the slowest pace since the fourth quarter of 2023.
Incoming new business increased again in June, extending the sequence of growth to one-and-a-half years.
An increase in tourism activity and improvements in overseas business conditions led to another solid rise in export sales
The level of confidence eased to the lowest level since March 2020 with some firms concerned about rising competition and softer economic conditions dampening activity in the year ahead.
Chinese service providers were also generally reluctant to hire additional staff, with employment levels falling marginally in June amid resignations and redundancies.
Incoming new business increased again in June, extending the sequence of growth to one-and-a-half years.
An increase in tourism activity and improvements in overseas business conditions led to another solid rise in export sales
The level of confidence eased to the lowest level since March 2020 with some firms concerned about rising competition and softer economic conditions dampening activity in the year ahead.
Chinese service providers were also generally reluctant to hire additional staff, with employment levels falling marginally in June amid resignations and redundancies.
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