China February Caixin Services PMI 51.4 (expected 50.8)

Services PMI 51.4, showing 26 consecutive months of expansion in services activity

• expected 50.8
• prior 51.0

Composite 51.5

• prior 51.1

More

• Supply and demand increased, supported by new product launches and stronger promotional efforts.
• New orders remained strong, with export orders hitting a three-month high while staying in expansionary territory.
• Employment remained stable, with a slight increase in hiring, though many firms remained cautious.
• Price pressures eased, as input costs fell for the first time since June 2020, leading to slight output price reductions.
• Market sentiment improved, with expectations for future activity rising for the second month in a row.
• Service firms remained optimistic, planning more aggressive sales strategies to drive growth.

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Earlier:

• China February PMIs: Manufacturing 50.2 (expected 50.0) Services 50.4 (expected 50.3)

This article was written by Eamonn Sheridan at www.forexlive.com.