Financial News: China Service Sector Growth Eases

China Service Sector Growth Eases

04/03/2026 - 01:53:00 (RTTNews)

(RTTNews) - China's service sector growth eased sharply in March but business outlook remained positive and cost pressures remained moderate, survey data published by S&P Global showed Friday.

The headline RatingDog China services Purchasing Managers' Index fell to 52.1 in March from a 33-month high of 56.7 in February.

The score was also below economists' forecast of 53.7. However, a reading above 50.0 indicates expansion in the services sector.

Inflows of new work increased for the thirty-ninth consecutive month and marked the second longest period of continuous expansion in the survey history. But the rate of growth was the slowest since April 2025. Still outstanding workloads continued to rise on the back of strong demand in February. Despite increases in outstanding work and new business, service providers reduced their staffing levels.

Regarding price pressures, the survey showed that average input prices increased marginally in March. The moderate growth in cost burdens enabled service providers to lower their charges in orders to support sales. Selling prices dropped for the third time in four months.

Service providers remained optimistic regarding expected activity levels over the next twelve months. Confidence was linked to planned business expansions, market developments, new projects, promotions and new products.

The survey showed that the overall private sector growth slowed in March from a 33-month high posted in February. The composite output index fell to 51.5 from 55.4 in February. Growth remained broad-based across manufacturing and services.

"Overall, while the pace of services sector expansion slowed in March, the foundation of domestic demand remained firm," RatingDog Founder Yao Yu said. "The Services PMI is expected to continue within expansionary territory in the near term."

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