China's service sector activity logged a steeper growth in July as the successful containment of the recent uptick in COVID-19 cases led to greater customer numbers and boosted new order intakes, survey results from IHS Markit showed on Wednesday.
At 54.9 in July, the Caixin Purchasing Managers' Index rebounded from June's 14-month low of 50.3 and signaled a sharp and accelerated expansion of services activity. New order growth accelerated in July as the containment of the virus domestically boosted customer numbers and demand. Nonetheless, new export business remained broadly stagnant.
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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.