Reported 2 months ago
In July, China's services activity showed accelerated growth, as indicated by the Caixin/S&P Global services PMI rising to 52.1, marking 19 consecutive months of expansion. However, external demand saw its slowest growth in 11 months. Despite rising costs for raw materials and wages, employment in the sector grew at the fastest rate in nearly a year. The government aims to boost consumption to counteract economic challenges, including deflationary pressures and a protracted property slump.
Source: YAHOO