China's Service Sector Shows Promising Growth in August

In August, China's non-manufacturing activity, including services and construction, grew at an accelerated pace, with the purchasing managers' index (PMI) hitting 50.3, compared to 50.1 in July. According to the National Bureau of Statistics, the combined PMI for manufacturing and non-manufacturing industries was 50.5.

China's non-manufacturing sector, which encompasses services and construction, experienced an accelerated expansion in August, as indicated by an official survey released on Sunday. The non-manufacturing purchasing managers' index (PMI) increased to 50.3, up from 50.1 in July, as reported by the National Bureau of Statistics (NBS).

Furthermore, the comprehensive PMI, which covers both manufacturing and non-manufacturing activities, was recorded at 50.5 in August, showing a rise from July's 50.2. A reading above the 50-point mark signals growth in the sector on a monthly basis.

The data reflects an encouraging trend for China's economy, suggesting a potential rebound amid global economic uncertainties.

(With inputs from agencies.)