<div id="readability-page-1"><div><p>China’s services activity expanded at a weaker pace in March, a private survey shows, pointing to sluggish consumer demand after a lift from a long national holiday the previous month.</p><p>The RatingDog China services purchasing managers’ index fell more than expected to 52.1 from 56.7 in February, according to a statement published Friday. The median forecast of economists surveyed by Bloomberg was 53.6, above the 50 mark separating expansion from contraction. </p><p>The official PMI survey showed service business activities picked up last month, with gains largely driven by producer services including finance. Consumer services such as retail and catering remained in contraction, according to a National Bureau of Statistics statement. China had a nine-day Lunar New Year holiday in February that boosted services spending, particularly in the tourism sector.</p><p>Services companies in the private survey saw a slight rise in input prices driven by higher costs of fuel, materials and labor. But they still reduced their selling prices for the third time in four months in order to boost sales, according to a statement.</p><p>China’s consumer spending booked the worst start to any year outside the pandemic, highlighting the challenge to a government that has targeted a bigger role for domestic demand. Beijing meanwhile has repeatedly  to rebalance its economy toward consumption, where ramping up services is . </p><p>China’s authorities modestly scaled back fiscal stimulus plans for this year as they lowered their annual growth target to 4.5%-5% — the least ambitious goal since 1991, though from a much larger base of gross domestic product.</p></div></div>

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<p>China's services activity showed slower growth in March, with the services purchasing managers' index dropping to 52.1 from 56.7 in February, indicating weak consumer demand post-Lunar New Year holiday. The official PMI indicated gains in producer services, but consumer services like retail remained in contraction. Input prices rose slightly, yet companies reduced selling prices to stimulate sales. Consumer spending has had a poor start to the year, prompting the government to lower its growth target to 4.5%-5%, the lowest since 1991, while scaling back fiscal stimulus plans.</p>

- China's service sector activity expanded at a weak pace in March, indicating soft consumer demand after the long holiday.  
- The RatingDogChina service purchasing managers' index fell from 56.7 in February to 52.1, dropping more than expected, while economists had predicted 53.6.  
- Despite a slight uptick in official PMI data, consumption services like retail remain in contraction, posing challenges for the government as it aims to shift economic focus towards consumer spending.

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China Services Gauge Slows After Boost From New Year Holiday