China services activity expands at fastest in almost a year in June

The Straits Times LogoThe Straits Times1 mo ago

China services activity expands at fastest in almost a year in June

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July 05, 2022 10:20 AM - BEIJING (REUTERS) - China's services activity snapped three months of decline in June and grew at the fastest rate in almost a year as easing Covid-19 curbs revived demand, although firms remained cautious about hiring, a private-sector survey showed on Tuesday (July 5).

Daily infections in mainland China increased to more than 300 over the weekend compared with a few dozens in late June.

Analysts expect further improvement in conditions in the third quarter, although the official GDP target of around 5.5 per cent for this year will be hard to achieve unless the government abandons the zero-covid strategy.

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Article Details

Category: Economy

Topics: China Caixin Services Month Previous Months Fastest Activity June Covid Year

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-07-05, 10:20:00

News Timezone: GMT +8:00

News Source URL:

Language: English

Reading Time: 3 minutes read

Article Length: 534 words

Coverage Area: Singapore

Availability: Desktop Web, Mobile Web

News ID: 30265

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About The Straits Times

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