Chinese Caixin Services PMI for August 51.8 (expected 53.6, prior 54.1) | Forexlive

From the Caixin report:

Latest PMI data signalled a softer expansion in service sector output in
China during August.

• Business activity increased at the slowest pace
  in eight months amid a softer rise in overall new work.
• Notably, new
  business from abroad fell for the first time in 2023 so far.
• Nevertheless,
  companies remained optimistic around the 12-month outlook,
  and planned company expansions supported a further increase in
  employment across the sector.
  

On the prices front, the rate of input cost inflation cooled to a six-month
low, while selling prices increased at the slowest rate since April.

While service sector output has now risen
in each of the past eight months, the latest upturn was the slowest
recorded over this period.

• 
  The slowdown in business activity coincided with a weaker increase in
  overall new business.
• New orders increased modestly, and at a pace
  that was below the average seen for 2023 to date.
• Data suggested that
  this was partly due to weaker foreign demand for Chinese services.
  
• New export business fell for the first time since December 2022, albeit
  marginally, amid reports of sluggish overseas market conditions.

Although growth momentum slowed, companies continued to add
to their staffing levels during August.

• The rate of job creation was
  little-changed from July and modest, amid reports of higher business
  requirements and plans to expand capacity.
  

Business confidence around the 12-month outlook remained positive
in August.

Companies often linked growth forecasts to projections of
stronger global economic conditions and improved customer numbers.
That said, overall optimism edged down slightly from July, reaching a
nine-month low.