Chinese RatingDog Services PMI (Apr) 52.6 vs. Exp. 52.0 (Prev. 52.1)

"A breakdown of the sub-indices shows that growth rates for both business activity and new business picked up in April. Total new business increased for the fortieth month in a row, and at the fastest rate since February, predominantly supported by domestic market demand." "A breakdown of the sub-indices shows that growth rates for both business activity and new business picked up in April. Total new business increased for the fortieth month in a row, and at the fastest rate since February, predominantly supported by domestic market demand." "Overall, the service sector exhibited a firming expansion momentum in April, underpinned by solid domestic demand and strong business confidence. The manageable cost environment allowed firms room to maintain price competitiveness. The sustainability of growth will hinge on the continued resilience of domestic demand."