News Column

China Service Sector Expands In August

September 2, 2014

BEIJING (Alliance News) - China's service sector activity improved in August after stagnating in the previous month, results of a survey by Markit Economics and HSBC Bank showed showed Wednesday.

The HSBC services business activity index rose to 54.1 in August from 50.0 in July.

A score above 50 signals expansion in service sector activity, while a reading below means contraction.

New orders continued to increase and the rate of expansion was fastest since January 2013.

Employment levels also continued to rise at a moderate rate in August.

Input costs continued to grow, though at a slower rate than in July. Output prices rose for the first time since March, though at a fractional pace.

The HSBC composite output index rose to 52.8 in August from 51.6 in July.

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Source: Alliance News

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