China's services sector growth slowed in February, Caixin/S&P Global services PMI dropped to 52.5.
China's services sector growth slowed in February, with the Caixin/S&P Global services PMI dropping to 52.5 from 52.7 in January. Business confidence has moderated, and companies reduced staff numbers for the first time since November. The services sector is expected to compensate for the struggling manufacturing sector as global demand remains slow. Outstanding business fell for the first time since July 2022, while payroll numbers declined in February, leading to a four-month low business confidence.
March 05, 2024
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