In May, China’s services sector expanded, reflected by a services PMI of 51.1. This growth indicates resilience, although it was accompanied by declining export orders due to U.S. Tariffs.
The manufacturing PMI fell to 49.6, marking China’s first contraction in 17.5 months, highlighting worries about the broader economic outlook amidst ongoing trade tensions.
China’s central bank has eased monetary policy to stimulate growth, with expectations of future policy support tied to stabilizing trade conditions. While employment in the services sector showed mixed results, optimism persists among service businesses.
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