BEIJING : China's services activity snapped three months of decline in June and grew at the fastest rate in almost a year as easing COVID curbs revived demand, although firms remained cautious about hiring, a private-sector survey showed on Tuesday.
An official survey on Thursday also showed the services industry staged the fastest rebound in 13 months, with sectors that were hard hit by COVID curbs such as retail and road transport catching up with previously depressed demand. However, employment continued to decline in June for the sixth straight month, with services firms linking it to cost-cutting initiatives and resignations amid COVID.
"Deteriorating household income and expectations caused by a weak labour market dampened the demand recovery. Correspondingly, supportive policies should target employees, gig workers and low-income groups impacted by the outbreaks."
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