China Services Activity Hits Three Month High in May
The RatingDog China General Services PMI rose to 54.4 in May from 52.6 in April, driven by stronger domestic demand and a rebound in export business. While service providers added jobs for the first time in four months, firms faced increased pressure from rising fuel and wage costs.
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The RatingDog China General Services Purchasing Managers Index, compiled by S&P Global, rose to 54.4 in May from 52.6 in April. This reading marks the fastest expansion in three months and remains above the 50-mark separating growth from contraction. Stronger domestic demand and a rebound in exports suggest the services sector is offsetting broader industrial cooling.
