Mumbai, June 5 -- China's service sector expanded at a faster pace midway through the second quarter. Services companies signaled stronger increases in both new business and activity during May.
This was despite a renewed fall in new export orders. As a result, companies hired additional staff to cope with higher workloads, leading to a slower rise in the level of outstanding business.
Turning to prices, cost inflation quickened in May, but firms opted to cut their selling prices, despite stronger optimism regarding future activity.
The headline Caixin China General Services Business Activity Index posted 51.1 in May, up from 50.7 in April. This marked the twenty ninth successive month in which the index has registered above the crucial ...