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<Econ>CN Caixin Services PMI Drops to 50.6 in Jun, Lowest since Oct 2024
Given factors such as the diminishing effects of the "May Day Golden Week" and Dragon Boat Festival holidays, the expansion rate of China's service industry slackened...
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<Econ>CN Caixin Services PMI Drops to 50.6 in Jun, Lowest since Oct 2024
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Given factors such as the diminishing effects of the "May Day Golden Week" and Dragon Boat Festival holidays, the expansion rate of China's service industry slackened in June.

The Caixin China General Services Business Activity Index (Services PMI) came in at 50.6 in June, missing the market expectation of 51, and down 0.5 ppts from May, data released by Caixin showed.

Related NewsCaixin Manufacturing PMI for Jun in China is 50.4, higher than the previous value of 48.3. The forecast was 49.
The index sagged to its lowest level since October 2024 within the expansionary territory, reflecting a slowdown in service industry demand expansion, a reappearance of employment contraction, relatively stable cost prices.

Meanwhile, it also showed a plunge in selling prices, resulting in considerable pressure on corporate profit. The market upheld an optimistic outlook.

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