China’s RatingDog PMI Services edged down from 52.1 to 52.0 in December, marking the lowest level in six months and extending the slowdown in growth momentum for a fourth consecutive month.
According to Yao Yu, founder of RatingDog, the sector ended the year with a “modest growth, high expectations” profile. Survey responses showed an improvement in business confidence, offering some “psychological support” for the 2026 outlook.
However, structural headwinds remain evident. Employment continued to contract, while volatile external demand weighed on new business. Both will remain “key constraints facing the sector.”
