VAST VIEW China's Services Sector Growth Stalls for First Time Since July, Survey Shows
A closely watched private survey shows China's services activity unexpectedly cooled, as businesses grew less confident and cut prices even while costs climbed.
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China's services sector growth unexpectedly slowed for the first time since July, according to a private survey cited by Bloomberg Markets. The dip signals a loss of momentum in an industry that has been a key pillar of the country's economy.
The survey found that business confidence weakened even as companies faced rising input costs. Despite that inflationary pressure, firms chose to lower their selling prices, a sign they may be struggling to pass higher costs on to customers amid soft demand.
The unexpected slowdown adds to questions about the strength of China's broader economic recovery, with services firms now showing signs of caution after months of steadier expansion.
Sources: Bloomberg Markets
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