Financial News: China Service Sector Expands At Faster Pace

China Service Sector Expands At Faster Pace

05/06/2026 - 01:08:00 (RTTNews)

(RTTNews) - China's service sector registered faster growth in April, driven by stronger increases in new business despite declining foreign orders, survey results published by S&P Global revealed Wednesday.

The headline RatingDog China services Purchasing Managers' Index rose to 52.6 in April from 52.1 in the previous month.

Economists had forecast the index to fall to 52.0. The indicator has remained above the threshold 50.0 level since January 2023, signaling consistent expansion throughout this period.

Underpinned by domestic demand, new business increased for the fortieth month in a row, and at the fastest rate since February. However, new export business declined for the second straight month.

Sentiment among service providers improved in April. Growth was anticipated from new projects, enterprise development, expanding markets, improved business efficiency and successful promotions.

Reflecting the rise in new business, outstanding workloads increased for the twelfth time in the last 13 months. Service providers continued to reduce their workforces on average.

Due to rising oil and fuel prices, input price inflation accelerated to the highest in 2026 so far. With overall cost burdens remaining manageable, service providers lowered their charges.

The broader private sector, covering both manufacturing and services activity, grew at the second-fastest pace since May 2024. The composite output index advanced to 53.1 in April from 51.5 in March, data showed.

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