India, Aug. 5 -- China's services activity expanded at the fastest pace in more than a year in July on rising inflows of new business, purchasing managers' survey data from S&P Global showed on Tuesday.
The headline general services business activity index rose to 52.6 in July from 50.6 in June. The index extended the current period of growth to just over two-and-a-half years. Moreover, the index suggested that the rate of growth in the service sector was the fastest since May 2024.
New business logged its fastest growth in July with firms linking the upturn to an improvement in underlying demand and business development efforts. Moreover, external demand picked up for the first time in three months.
There was a fresh round of increase i...