Growth in China's services activity accelerated in July helped by new orders, although momentum in overseas demand eased to its slowest pace in 11 months, a ...
BEIJING - Growth in China 's services activity accelerated in July helped by new orders, although momentum in overseas demand eased to its slowest pace in 11 months, a private-sector survey showed on Monday.
The world's second-biggest economy grew much more slowly than expected in the second quarter and faces deflationary pressures and a protracted property slump, with retail sales growth in June grinding to its weakest pace since early 2023.The Caixin/S&P survey showed that the new orders sub-index rose to 53.3 in July from 52.1 in June, while the gauge of overseas demand showed the smallest expansion since August 2023.
"Prices at the composite level remained weak, on the sales front in particular, further squeezing the space for company profits," said Wang Zhe, senior economist at Caixin Insight Group. "More significant domestic stimulus may only become plausible next year in the face of potentially stronger external headwinds," Citi said.
Australia on Monday raised its terror threat level to "probable" from "possible", citing an increase in extremist views in the country leading to a more than 50% chance of the planning of an onshore attack in the next 12 months. Prime Minister Anthony Albanese said he had raised the country's threat level following advice from security services, but said there was no imminent threat of an attack.
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