GROWTH in China's services sector activity slowed in August despite the summer travel peak, prompting some firms to cut staff amid concerns about rising costs, a private-sector survey showed, reports Reuters.
The Caixin/S&P Global services purchasing managers' index (PMI) slipped to 51.6 in August from 52.1 in July. The 50-mark separates expansion from contraction on a monthly basis.
The new business index remained above 50, extending the sequence of expansion that started from January 2023, but the rate of growth was softer than July. Export business quickened, however. According to panelists, overseas client interest in the tourism industry supported faster business growth.
The State Council, or the cabinet, published a notice to improve high-quality development of China's service trade, including facilitating cross-border talent flow and enhancing international transport service capacity.
SeaNews Turkey
The Caixin/S&P Global services purchasing managers' index (PMI) slipped to 51.6 in August from 52.1 in July. The 50-mark separates expansion from contraction on a monthly basis.
The new business index remained above 50, extending the sequence of expansion that started from January 2023, but the rate of growth was softer than July. Export business quickened, however. According to panelists, overseas client interest in the tourism industry supported faster business growth.
The State Council, or the cabinet, published a notice to improve high-quality development of China's service trade, including facilitating cross-border talent flow and enhancing international transport service capacity.
SeaNews Turkey
