The hottest in July, the PMI of HSBC's service ind

2022-08-13
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In July, the stable business activities of HSBC's service industry PMI expanded slightly

in July, the stable business activities of HSBC's service industry PMI expanded slightly

China Construction machinery information

Guide: the data released by HSBC yesterday showed that the business activities of China's service industry increased further, but the growth rate was still low, and the new orders in the month hit the highest since March. After seasonal adjustment, China's service industry purchasing managers' index (PMI) in July was 51.3, which was equal to the physical property test of various materials measured with international standards or industry standards in June, indicating that the test pieces in China were drum shaped after tightening

the data released by HSBC yesterday showed that the business activities of China's service industry increased further, but the growth rate was still low, and the new orders in the month hit the highest since March

after seasonal adjustment, China's service industry purchasing managers' index (PMI) in July was 51.3, unchanged from June, indicating that China's service industry activities further expanded slightly. However, excluding the season, the growth rate is still far lower than the historical level of the survey, except for the requirements of the stored experimental data. In 13% of the months, the business activities of the surveyed enterprises expanded, and more than 7% of the enterprises contracted

"China's service industry activities tend to stabilize at a low level. However, the profit margin of the service industry will be squeezed by the rise of the input price index and the decline of the charge price index. If the demand side does not continue to improve, the growth of the service industry is likely to remain sluggish, which will exert downward pressure on employment growth." Quhongbin, chief economist of HSBC Greater China and co head of Asia Pacific Economic Research, said

it is worth noting that after three consecutive months of slowdown, new orders increased during the month, and the growth rate rebounded to the highest level since March. HSBC survey shows that the increase in customer demand during the month has driven the growth of new businesses

in addition, due to the rise in procurement prices and labor costs during the month, the average input cost continued to rise in July, although the growth rate was small, but it was the highest level since March. Although the operating costs have increased, in order to attract new customers, service enterprises have reduced their charge prices for the third consecutive month. Although the price reduction is small, it has also achieved the highest record in the past year

HSBC said that the service industry is expected to maintain growth in business activities in the next 12 months. Although the optimism of the industry is higher than the lowest survey record set in June, it is still one of the lowest values in this survey (which began in November 2005). Some surveyed enterprises expect that new projects will support business expansion, but other enterprises are still worried that the fragile economic environment will drag down or weaken future business activities

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