China’s services activity expanded at its fastest pace in 33 months in February, underpinned by firmer demand including a pickup in overseas orders, reports Reutersciting a private-sector survey. The expansion came as rising costs also pushed output prices to their highest in 21 months.
The RatingDog China General Services PMI, compiled by S&P Global, rose to 56.7 in February from 52.3 in January, the strongest reading since May 2023. The 50-point mark separates expansion from contraction. The result contradicted an official survey released earlier in the day that showed non-manufacturing activity contracted for a second month in February.
“External uncertainties and the current softness in employment may constrain the sustainability of this improvement to some extent. The Services PMI is expected to maintain its expansionary trend in the short term,” said Yao Yu, Founder at RatingDog.