China’s Services Sector Shows Resilience Amidst U.S. Tariff Concerns

Despite looming U.S. tariff threats, China’s services sector demonstrated resilience in May, fuelled by domestic demand. However, export orders declined due to escalating uncertainty surrounding Washington’s latest moves on its trade policies. The Caixin/S&P Global Services Purchasing Managers’ Index (PMI) rose to 51.1 in May from 50.7 in April, reflecting overall growth, though a fragile recovery as the rest of the economy faced some strain.