AI Data Insight
China's cumulative year-on-year growth rate for the Q2 2026 Services Production Index fell to 4.8%, slowing slightly from the previous value of 4.9%. Although modern services such as information transmission and business services performed strongly, overall domestic demand and consumption remained weak, even facing the dilemma of negative single-month growth in total retail sales of consumer goods. Going forward, close attention should be paid to whether policy stimulus can effectively boost terminal demand.