China’s private-sector services activity expanded at a slower rate in June, with the S&P Global Purchasing Managers’ Index (PMI) falling to 54.1 from 54.4 in May.
The reading, compiled by S&P Global, indicates that while the sector remains in expansionary territory, the momentum is decelerating.
The slight dip in the services PMI follows a recent report that China’s private manufacturing sector extended its expansion for a seventh consecutive month, marking its strongest quarter since late 2020.
The divergence between the two sectors highlights a mixed economic picture, with manufacturing resilience offset by cooling services demand.
This development adds to a broader narrative of uneven global growth.
In the euro zone, private sector activity contracted for a third straight month in June, although the pace of decline moderated compared to previous readings.