China services sector growth steady in August

It edged up to 7.9% YoY from 7.8% in August.

China's services sector was relatively stable in August, thanks to a revival in real activity in the transport and consumption sectors.

According to Standard Chartered (SC)' China China Services Sector Tracker (CSST), the headline Tracker edged up to 7.9% y/y in August from 7.8% y/y in July.

CSST based on high-frequency data, has been tracking China’s monthly tertiary industry growth since January 2010.

"Based on our estimates of services-sector growth in July-August, we expect official tertiary industry growth to have accelerated to 7.9% y/y in Q3-2016 from 7.5% y/y in Q2," said SC.

SC track value-added growth in five key sub-sectors of the tertiary industry, based on the structure of the official tertiary GDP.

The sub-sector trackers indicate decelerating growth in August for the ‘accommodation and catering trade’ and ‘real estate’ sectors, while growth in the ‘transport, storage and post’, ‘wholesale and retail trade’, and ‘financial intermediation’ sectors’ strengthened.

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