China's service sector rise to 7-mth high, but orders from abroad declines

Quick Summary:

The survey showed that the newly introduced business sub-index rose to 52.7 in December, from 51.8 reported in November.

According to Caixin and S&P Global, the growth pace was the fastest since May 2024, driven by the surge in domestic demand.

However, orders from abroad have declined, reflecting further trade challenges in an ongoing tough situation for the world's second-largest economy.

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Category: BusinessFinance

Markets: IndiaChinaTaiwan

Topics: China exports decline Trump's tariffs US tariffs China China foreign business decline Tariff threat China Caixin PMI China's trade challenges China's real estate crisis China business confidence Cost pressures Business inflows decline China economic slowdown Fiscal monetary measures China New business sub-index China trade policies China's inflation China economy recovery China services sector growth Workforce reduction PMI December 2024 Domestic demand surge Composite PMI December Weak domestic demand External challenges

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-06 @ 11:58:13 (1 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 422 words

Reading Time: 3 minutes read

Sentences: 17 lines

Sentence Length: 25 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 24911548

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