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04.09.2019 14:45

Growth in Chinese services sector activity accelerates in August

Markit/Caixin’s survey revealed on Wednesday that the activity growth in the Chinese services sector rose in August.

The Caixin/Markit services purchasing managers' index (PMI) came in at 52.1 last month on a seasonally adjusted basis, up from the previous month's reading of 51.6. That marked the strongest rise in services activity since May. The 50 mark divides contraction and expansion.

According to the survey, the rate of new order growth was the quickest in four months and the employment rose at the fastest pace since June 2018. On the price front, service providers’ operating expenses increased at the strongest pace for three months amid reports of greater purchasing prices and labour costs, while their output charges rose the most in 20 months.

Caixin China Composite PMI, which covers both manufacturing and services, rose from 50.9 in July to a four-month high of 51.6 in August.


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