China's services sector expansion slowed in May, a private sector survey showed on Thursday, with weaker overseas demand and increased costs putting pressure on businesses.
The Caixin/Markit services Purchasing Managers' Index fell to 55.1 in May, down from 56.3 in April but still well in expansionary territory. The 50-mark separates growth from contraction on a monthly basis.The survey attributed part of the slowing expansion to a fall in overseas demand as COVID cases abroad hurt business activity. A gauge of export orders slipped into contraction.
Though slower to recover from the epidemic than manufacturing, a gradual improvement in consumption has stimulated activity in China's services sector, which includes many smaller and private companies. Even though firms were able to raise selling prices for the 10th straight month, the increases have yet to catch up with the inflation in input costs.
不是说了劳动节放长假吗？怎么没人消费吗？
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China factory growth picks up in May but inflation pressures build -Caixin PMIChina's factory activity expanded at the fastest pace this year in May as domestic and export demand picked up, though sharp rises in raw material ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Man in China uses Lamborghini to barbecue skewered meat, gets served bill for repairs
Source: TODAYonline - 🏆 1. / 99 Read more »
India May trade deficit at US$6.32 billion - trade ministryIndia's trade deficit in goods was US$6.32 billion in April, preliminary data released by the government on Wednesday showed. deficit at US$6.32 billion ? No wonder so good friends with US , US only country can save them , actually not only US ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
China yuan assets not a 'bargaining chip' for gamblers, Xinhua warnsChinese yuan-denominated assets are not a 'bargaining chip' for gamblers, the official Xinhua news agency said in a commentary on Wednesday, in ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Indonesia's May inflation at highest in 5 monthsJAKARTA: Indonesia's annual inflation accelerated to 1.68 per cent in May, its highest since December and roughly in line with expectations, as ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Elephants on tour in China guzzle crops and wreak havocBEIJING — A herd of 15 wandering elephants on an epic trek through southwestern China have entered villages to gorge on crops, broken into barns and caused a million dollars of losses.
Source: TODAYonline - 🏆 1. / 99 Read more »