China services PMI rises to 51.6 in September, fastest in three months

4 in August New business grows at quickest rate since June, survey shows Output prices fell most since April 2022 even as input cost inflation eased BEIJING, Sept 30 (Reuters) — China's services activity expanded at its fastest pace in three months in September, as stronger new orders, including from overseas, lifted output, a private-sector survey showed on Wednesday. 4 in August, staying above the 50-mark that separates growth from contraction. New business grew at its quickest rate since June, supported by improving demand and companies' efforts to expand their client base, while new export orders rose at a faster clip than the previous month.

Employment rose for a fifth consecutive month as firms took on more staff to cope with heavier workloads, though the rate of hiring eased to a four-month low. Input costs rose at a slower pace than in August, while output prices declined for the first time in four months, the sharpest drop since April 2022. Business confidence strengthened from the previous month, with companies pointing to hopes of firmer market conditions, expansion plans and new project wins. 1 in August.

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