A private gauge showed China's services sector expanding at a slightly slower pace in June as new orders eased, though overall activity and demand remained robust.
The RatingDog services purchasing managers' index fell to 54.1 in June from May's 54.4, according to a statement released Friday.
The private gauge diverged from the official measure, which showed service activity expanding at a slightly faster pace last month.
Total new orders continued to grow in June, though the growth rate slowed slightly, said RatingDog. But total new export orders rose for a second month and increased at the fastest pace since October 2024.
Solid new business growth prompted service providers to expand their workforces, marking the first back-to-back monthly increase in employment since 2024, said RatingDog. Furthermore, the rate of hiring accelerated to its highest pace since July 2024.
Accordingly, service companies in China raised prices in June on the back of rising new business intake. This marked the first price increase since February, as the rate of inflation hit its highest level in June since May 2024.
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