China's services activity expansion slows in August, Caixin PMI shows

Quick Summary:

BEIJING: Growth in China's services sector activity slowed in August despite the summer travel peak, prompting some firms to cut staff amid concerns about rising costs, a private-sector survey showed on Wednesday.

Anecdotal evidence suggested that rising competition led service providers to lower prices and offer discounts to support sales.

Average input prices continued to rise, with the rate of cost inflation accelerating to the highest since June 2023.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaChina

Topics: Caixin Economy PMI /Business/Business News Services

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-04 @ 09:50:00 (2 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 406 words

Reading Time: 3 minutes read

Sentences: 22 lines

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Copyright Owner: © The Star

News ID: 22361389

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