FX.co ★ China Services Growth Slows in March

The RatingDog China General Services PMI slipped to 52.1 in March 2026 from 56.7 in February, a near three-year high, and fell short of the consensus forecast of 53.7. This was the weakest expansion in services activity in three months. New business continued to rise, supported by solid domestic demand and new client projects, but the growth rate was the slowest since April 2025. After robust gains in the first two months of the year, international new business edged down slightly. Backlogs of work increased modestly, while firms trimmed staffing levels in response to the softer growth momentum. Input cost pressures remained subdued, enabling service providers to lower their selling prices. Business confidence stayed in positive territory, underpinned by expectations of better market conditions and further expansion plans.