RatingDog China services PMI rose to 51.4 in August, up 1.0 ppt from July and
the 44th consecutive month above the 50 expansion threshold. Demand improved:
new business grew for the 44th month and accelerated versus July. New export
orders remained in expansion for a fourth month but slowed from June’s
year‑to‑date high. Firms’ 12‑month activity expectations recovered from July’s
recent low. Input-cost pressures ticked up from July’s six‑month low but stayed
moderate; selling prices were raised for a third consecutive month. Employment
continued to expand, with the employment index rising for a fourth month — the
longest consecutive growth streak since 2023. Overall, services activity and new
orders accelerated and business confidence improved modestly.
