China services PMI hits 54.4 in May, fastest since February
Business
China's services industry picked up serious momentum in May 2026, growing at its fastest pace since February.
The key PMI score jumped to 54.4 (anything above 50 means growth), thanks to more people spending at home and a rebound in export orders.
China service firms gain, costs rise
Companies say the boost came from winning new customers and launching fresh products, while export demand finally turned positive after a dip.
But there's a catch: input costs like fuel and wages are rising fast, making it tougher for businesses to stay profitable even as they hire more staff and look ahead with optimism.