China's Service Sector Continues Expansion Despite Slower Growth in March
China's service sector reported further increases in activity and new business in March, according to the latest PMI data. Although the growth rate eased from February, the 12-month outlook remains positive. Cost pressures have remained modest, allowing firms to discount their prices. The China General Services Business Activity Index posted above the 50.0 neutral mark, indicating continued growth. The current expansion sequence began in January 2023, with the headline figure falling from a 33-month high of 56.7 in February to 52.1, signaling a slower rate of growth. 
