Overview

• India’s services PMI climbed to 60.5 in July, its highest since August 2024, underpinned by a sharp rise in export orders and robust domestic sales.
• China’s services PMI reached 52.6, a 14-month peak driven by the fastest expansion in new business in a year and stabilised trade boosting export flows.
• Japan’s services sector index rose to 53.6, the strongest since February, as brisk domestic demand offset a steep drop in exports and tourist activity.
• Spain’s services PMI jumped to 55.1 in July, its best reading since February, led by firm local consumption despite weaker foreign demand.
• Russia’s services PMI fell to 48.6, marking the deepest contraction since June 2024 amid declining new orders and subdued client demand.