China's June services activity slows slightly, private PMI shows

BEIJING, July 3 (Reuters) - ‌China's services ​activity ​expanded at a slightly slower pace in June as growth in new business ‌eased, though overseas demand rose at the ⁠fastest rate in 20 months, a private-sector survey showed ‌on Friday.

The RatingDog China ‌General Services Purchasing Managers' Index, compiled by S&P Global, fell to 54.1 from 54.4 in May, ​staying above the 50-mark that separates expansion from contraction.

The reading compared with an official ⁠survey released this week that showed services activity edging up slightly. ​The two surveys cover different samples.

• New business growth slowed from May, though stronger ​overseas demand supported the ‌overall rise in new work, with the new export business index increasing at ⁠the fastest pace since October 2024, the survey showed.

• Companies raised their selling prices for the first ⁠time in four months and at the fastest clip ​in more than two years, even as input cost inflation slowed.

• Service providers added jobs at a faster pace ‌in response to improving demand.

• Business confidence about activity over the coming ‌year remained positive, though optimism softened.

• The Composite ⁠Output Index eased to ‌53.6 in June ​from 54.0 in May.

(Reporting by Liangping Gao and Ryan Woo; Editing by Sam ‌Holmes)

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