China’s services PMI rose to 51.6 in September, up from the previous month. Growth in new orders, including overseas orders, contributed to the reading, which was the highest in 3 months.
China’s services PMI rose to 51.6 in September from 51.4 the previous month. The new orders index remained above 50 and at its highest level since June. Efforts by companies to expand their customer bases provided support.
The index for new overseas business also rose from the previous month, with improving demand, including overseas demand, contributing to the increase. Overall, expanding demand led to growth in new orders and overseas business for companies.
The employment index remained above 50 for the 5th consecutive month. Although companies increased staffing to handle higher workloads, the index itself fell to its lowest level in 4 months.
The input-cost index remained above 50 but fell from the previous month. The selling-price index fell below 50 for the first time in 4 months, reaching its lowest level since April 2022.
Business confidence in the outlook improved from the previous month. Companies cited expectations for improved market conditions, business expansion plans and the acquisition of new projects.
The composite PMI for manufacturing and services combined rose to 52.4 from 52.1 in August.