Tunisia records the lowest annual inflation rate at 5.6 % in 4 years
On Labor Day, China’s passenger cost increased by 8 percent to 8 percent and reached 180.27 billion yuan ($ 24.92 billion), but it was still lower than the level -Level level, but the country’s service sector spread slowly in the last seven months in April.
Labor Day, one of the longest holidays in the country, was hurt as a measure of the confidence of Chinese consumers. The declining growth in the world’s second largest economy has suffered between the declining growth and long real estate crisis, and the consequences of the trade war between the United States and China are expected to increase this situation.
China’s Tourism Ministry recorded 314 million internal flights during the holiday, which increased by 6.5 percent, but the number of transactions increased using the “Vixen Bay” application, which, on a regular payment app, more than 10 percent on the annual basis, increased the cost of restaurants.
During the five -day holiday, 10.9 million people entered the country, an increase of 28.7 percent compared to 2024. The official «Xinhua» News Agency increased by 1.1 million foreigners and 43.1 %.
The total cost of personal expenditure during the five -day holiday, which is usually filled with family journey, according to official data, rose 1.5 percent to 574.1 yuan. This cost is less than 2019 when the per capita cost reaches 603.4 yuan.
In the 547 million yuan holidays, only half of the ticket sales during the same period had a significant decrease in box office revenues or in 2024.
Meanwhile, the growth of new demands compared to the Chinese service sector, according to a private sector survey conducted on Tuesday due to uncertainty caused by American customs duties.
Despite the strong economic growth in the first quarter, with the government’s inspiration support, the Chinese economy is still facing continuous inflation risks. Coxin/Standard & Poor’s World Service Sector has declined from 51.9 points to 50.7 points in March in March, the lowest level from September. It separates the level of fifty points between the expansion and contraction.
This is usually suitable for the China official survey, which has been reduced to 50.1 points in the previous month from the previous month. Coxin Procurement Manager Index is a more accurate measure of small and medium -sized companies that rely on export.
The Coxin Service Survey showed that the growth of the new business has slowed down from December 2022, despite slightly higher export requests, and it has been somewhat cause for the restoration of tourism.
Chinese economist Jenchan Huang in Capital Economics, Coxin Procurement Manager Index, “The trade war provides additional evidence that the trade war is weighed outside the manufacturing sector even outside the manufacturing sector.” “Although some caution is fully justified, we suspect that companies are exaggerating the extent to which American customs duties have happened.”
Since 2023, 48 per cent of Chinese employees have been working in the services sector, with 56.7 per cent in GDP last year. However, US President Donald Trump’s trade actions can harm the productive sector, weakening employment plans in companies and weakening consumer confidence.
The services sector has slowly seen corporate morale since February 2020, as companies have said that US customs duties are a major concern. Service providers have reduced jobs in the second consecutive month to reduce costs, which led to an increase in business and pushing the relevant index to the expansion area this year. Companies have also cut their prices to attract customers despite the high costs of inputs.
Chief Economist Lin Song at ING in Hong Kong said, “Unlike government support policies for specific products such as home appliances such as replacement system,” so far is limited to increase service use. “
He said that to improve local demand, consumer vouchers refer to a short -term batch, improve the quality of services, their availability and their long -term range. In total, it is important to revive the consumer’s confidence in the savings, restoring the effectiveness of positive wealth and getting rid of every inflation psychology to recover the growth of wages.
Last month, the Political Bureau of the Ruling Communist Party pledged to support companies and most affected workers from the impact of high American customs duties and asked the country to prepare for the worst scenes. Economists in Morgan Stanley have expressed that growth in the second quarter last week is slowing through a one percentage point, as the effects of customs duties have intensified.
“We hope that Beijing will overcome the challenges with carefully and imbalance motivation policies, because it is still dependent on investing in developing sectors and urban restorations, with a gradual change in its policies towards the medium season.”
