China services activity hits three-month high

The services sector in China experienced faster growth over the three months ending in May, driven by an increase in new business and improved external demand, despite rising costs. The Standard & Poor's Global Purchasing Managers' Index (PMI) stood at 54.4 points, indicating a return to growth after contracting in April. Export activity resumed, and new jobs were added for the first time in four months, amid accelerated inflation in input costs due to rising oil prices and wages.

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