China's service sector expanded at a faster pace at the start of the third quarter, underpinned by the solid growth in new business, survey results released by S&P Global revealed on Thursday.
The Caixin services Purchasing Managers' Index rose more-than-expected to 54.1 in July from a five-month low of 53.9 in June. The expected reading was 52.5.
A score above 50.0 indicates expansion. The reading suggested that the services economy has expanded for the seventh straight month.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.