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China private-sector activity firms in August as services hiring rises
The firmest services job growth in more than five and a half years coincided with faster backlogs growth and contained price pressures, suggesting demand-led improvement while exports slowed.
China’s private-sector activity strengthened in August, according to RatingDog PMI data, with Services rising from 50.4 in July to 51.4 and the Composite PMI increasing from 50.8 to 52.1.
Services growth accelerated but stayed moderate, driven primarily by domestic demand. New business improved, though export growth continued, it did so at a slower pace than earlier, and hiring showed a notable pickup.
Labour-market indicators turned more encouraging. Services employment rose for the fourth consecutive month, the longest streak since 2023, and composite employment also increased for four months, marking the longest run of private-sector job growth in more than five and a half years.
Price pressures remained contained, with services input inflation only modestly higher and output prices rising marginally for a third straight month. Overall, the August readings pointed to broader improvement supported by domestic demand and hiring, tempered by softer export momentum and still-moderate pricing power, Action Forex reported.