Financial News: China Service Sector Growth Accelerates

China Service Sector Growth Accelerates

06/03/2026 - 03:02:00 (RTTNews)

(RTTNews) - China's service sector grew at a faster pace in May as total activity and new business expanded at the fastest rates in three months, survey data from S&P Global showed Wednesday.

The RatingDog services Purchasing Managers' Index rose to 54.4 in May from 52.6 in the previous month.

The score has remained above the 50.0 neutral mark since January 2023, signaling expansion in the service sector.

Demand for services accelerated for the fourth time in five months driven by increased client demand, business innovation and expansion, new client acquisition, improved market conditions and the development of new projects. Higher inflows of export business underpinned rise in total new work.

Business expectations strengthened to the highest since February amid improving market conditions, increased client demand, new projects and new business lines.

There was another increase in outstanding orders and work-in-hand increased for the seventh straight month. Employment in the service sector grew for the first time in four months.

Input price inflation rose to the highest since October 2024 due to rising costs of oil and fuel, increased procurement cost and higher wages and labor cost.

The combined output of manufacturing and services expanded the most since February. The composite output index posted 54.0 in May compared to 53.1 in April.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

U.S. Consumer Sentiment Rebounds From Record Low In June (04 hr(s), 26 min(s), 55 sec(s) ago)
(RTTNews) - With consumers experiencing some relief due to the early-month easing in gasoline pric ...Full Story»

Brent Crude Oil Prices May Climb 36% In 2026 On Middle East Conflict: World Bank (05 hr(s), 16 min(s), 55 sec(s) ago)
(RTTNews) - The persisting conflict in the Middle East and the closure of the Strait of Hormuz are ...Full Story»

India Inflation Climbs To 3.93% In May (06 hr(s), 44 min(s), 55 sec(s) ago)
(RTTNews) - India's consumer price inflation accelerated further in May to the highest level i ...Full Story»

U.K. Economy Shrinks For First Time Since August (07 hr(s), 26 min(s), 55 sec(s) ago)
(RTTNews) - The U.K. economy contracted for the first time since August last year as the U.S.-Iran ...Full Story»

Hong Kong Industrial Output Growth Slows In Q1 (08 hr(s), 40 min(s), 55 sec(s) ago)
(RTTNews) - Hong Kong's industrial production expanded at a slower pace in the first quarter o ...Full Story»

Spain Inflation Stable At 3.2% (08 hr(s), 53 min(s), 55 sec(s) ago)
(RTTNews) - Spain's consumer prices logged a steady increase in May, final data from the stati ...Full Story»

Croatia Producer Price Inflation Eases To 6.7% (09 hr(s), 02 min(s), 55 sec(s) ago)
(RTTNews) - Croatia's producer price inflation slowed slightly in May from a 31-month high in ...Full Story»

Turkey Current Account Deficit Narrows In April (09 hr(s), 15 min(s), 55 sec(s) ago)
(RTTNews) - Turkey's current account surplus decreased in April from a year ago, according to ...Full Story»