China Unofficial Services PMI Rose In May

China's unofficial RatingDog Services PMI rose to 54.4 in May from 52.6 in April, surpassing consensus estimates. The rise was driven by increased client demand and innovation, though input cost inflation continues to squeeze margins.

Key Takeaways

• 1.The RatingDog China Services PMI increased to 54.4 in May, up from 52.6 in April, indicating an acceleration in service sector activity.
• 2.New business and export orders both improved, with the employment sub-index returning to expansion territory at 50.4.
• 3.Profit margins remain pressured as input prices rose while output prices remained nearly flat (49.9).

Table of Contents

• Bottom line:
• Key numbers:
• Main points:
• The China Economics Team
• Disclosure Appendix
• Global product; distributing entities
• General disclosures

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