3 September 2025, 05:33 China: Services PMI Rises to 15-Month High.
The China General Services PMI increased to 53.0 in August 2025, up from 52.6 in July and above expectations of 52.5. The reading marked the fastest expansion in the services sector since May 2024. New orders grew at the strongest pace since May 2024, supported by a sharper rise in new export business, which increased at the fastest rate in six months. However, service providers cut staffing levels in August after adding jobs in July, citing non-replacement of departures, redundancies, and cost concerns. Meanwhile, backlogs of work rose at a faster pace, indicating increased pressure on operating capacity. On prices, input costs rose slightly, driven by higher wages and raw material prices. Meanwhile, selling prices declined, as firms reduced charges to support sales amid intense competition. Lastly, sentiment remained positive, with confidence unchanged from July, amid hopes that improved market conditions and internal growth plans would help stimulate business activity.
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