Service sector activity grows in China

China’s services sector activity grew in July on solidly rising business activity across the sector. China’s services sector activity grew stronger in July, according to a Caixin survey compiled by S&P Global. The services sector PMI was at 54.1, up slightly from 53.9 in June. The stronger growth was driven by solidly rising business activity across the sector, the survey said. This was also supported by a “marked and accelerated” increase in overall new business, which encouraged firms to increase payrolls for the sixth consecutive month.