China's service sector growth accelerated in August driven by the strong upturn in new orders, survey data from S&P Global showed on Wednesday.
The headline RatingDog services Purchasing Managers' Index rose unexpectedly to 53.0 in August from 52.6 in July. Economists expect the indicator to fall to 52.4. The rate of increase was the fastest seen since May 2024.
The index remained above the threshold 50.0 mark since January 2023 signaling expansion in the sector.
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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.