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.
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.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
