China's August services activity slows amid sluggish demand, private survey shows

China's services activity expanded at the slowest pace in eight months in August, as weak demand continued to affect the economy and government stimulus failed to boost consumption significantly.

cnbc.com

Relevant topic timeline:

8/30/2023

Consumer spending in China bounced back in August, survey finds

Consumer spending in China rebounded in August, with all categories, including apparel, automotive, food, furniture, appliances, and luxury, experiencing increased sales compared to July, according to a survey by the China Beige Book. Retail sales in July rose by 2.5% year-on-year, raising concerns about China's economic growth, but the August survey showed a surge in spending, particularly in the services sector, which saw continued strength in travel and hospitality. Additionally, corporate borrowing increased as the cost of capital declined, indicating a boost in business activity. However, China's property sector continued to worsen, with house prices barely growing and home sales declining.

8/31/2023

China's factory activity shrinks for a fifth straight month in August

China's factory activity contracted for the fifth consecutive month in August, indicating that the slowdown in the country's economy has not yet reached its lowest point.

9/1/2023

Chinese manufacturing activity unexpectedly grows in August- Caixin PMI By Investing.com

Chinese factory activity unexpectedly grew in August, fueled by improving local demand and an increase in new orders, although the Chinese economy still faces challenges due to weak external demand and a potential real estate crisis.

9/5/2023

Morning Bid: China optimism dissipates after weak data

Investor sentiment on China weakens as new data reveals slowest expansion in services activity in eight months, dragging down markets and raising concerns about the country's economy.

9/5/2023

China's services activity falls in August to its lowest level in eight months

China's services sector experienced a slowdown in business activity, resulting in the lowest level in eight months, as weaker foreign demand and sluggish overseas orders impacted consumption, despite economic stimulus efforts.

9/6/2023

ISM Services PMI unexpectedly rises in August

The US services sector expanded for the eighth consecutive month in August, with all four subindexes of the Services PMI showing growth, according to the Institute for Supply Management.

9/19/2023

China's Economy Shows Signs of Improvement in August with Increased Credit and Government Support

China's credit is expanding rapidly, with total social financing increasing by over 3 trillion yuan in August, mainly driven by government financing, indicating positive signs of economic stabilization and recovery from the slump in the second quarter. Additionally, recent policy measures, particularly in fiscal and property sectors, are expected to further stimulate the economy.

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Posted 9/5/2023, 2:07:00 AM

China's August services activity slows amid sluggish demand, private survey shows

China's services activity expanded at the slowest pace in eight months in August, as weak demand continued to affect the economy and government stimulus failed to boost consumption significantly.

cnbc.com

Relevant topic timeline:

8/30/2023

Consumer spending in China bounced back in August, survey finds

8/31/2023

China's factory activity shrinks for a fifth straight month in August

China's factory activity contracted for the fifth consecutive month in August, indicating that the slowdown in the country's economy has not yet reached its lowest point.

9/1/2023

Chinese manufacturing activity unexpectedly grows in August- Caixin PMI By Investing.com

9/5/2023

Morning Bid: China optimism dissipates after weak data

Investor sentiment on China weakens as new data reveals slowest expansion in services activity in eight months, dragging down markets and raising concerns about the country's economy.

9/5/2023

China's services activity falls in August to its lowest level in eight months

9/6/2023

ISM Services PMI unexpectedly rises in August

The US services sector expanded for the eighth consecutive month in August, with all four subindexes of the Services PMI showing growth, according to the Institute for Supply Management.

9/19/2023

China's Economy Shows Signs of Improvement in August with Increased Credit and Government Support