Mumbai, March 4 -- China's services sector grew at its fastest pace in almost three years in February, according to the latest PMI data. The Caixin China General Services PMI rose to 52.6 from 51.0 in January, signalling a solid expansion in business activity. Stronger domestic demand and improved overseas sales supported the upturn, with new business increasing at one of the quickest rates since mid-2024. New export orders expanded at the fastest pace in a year, helped by better tourism activity and marketing efforts.
Higher new orders led to a modest rise in outstanding business. However, with limited pressure on capacity, companies reduced staffing levels after a slight increase at the start of the year, partly to manage rising costs.
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