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Economic Buzz: China services sector growth accelerates in May
03-Jun-2026 07:56
China's services sector saw stronger momentum in May, with the RatingDog China General Services Business Activity Index rising to 54.4, up from 52.6 in April. This marked the steepest increase in three months and extended the expansion streak that began in January 2023.

New business expanded at the fastest pace in three months, supported by rising client demand, new projects, and improved market conditions. Orders grew for the 41st consecutive month, the second-longest run in survey history. Export demand also picked up after recent declines, though domestic demand remained stronger.

Employment rose for the first time in four months as outstanding work increased at the sharpest rate since June 2024. Work-in-hand has now grown for seven straight months.

Cost pressures intensified, with input price inflation reaching its highest since October 2024, driven by fuel, procurement, and wage costs. However, charges to clients were largely unchanged.

The Composite Output Index climbed to 54.0 in May from 53.1 in April, signalling the fastest overall growth since February. Services activity led the acceleration, while manufacturing output also remained robust. Business confidence improved to its highest since February, supported by optimism over demand, innovation, and new projects.

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