China’s service sector expansion slowed in Maya private sector survey showed Thursday, with weaker foreign demand and higher costs putting pressure on companies, Reuters reported.
“The Caixin / Markit Services PMI Purchasing Managers Index fell to 55.1 in May, down from 56.3 in April, but it is still in expansion territory. The 50 point level separates expansion from contraction. “
“The survey attributed part of the slowdown in expansion to a drop in demand abroadas COVID cases abroad hurt business activity. An indicator of export orders contracted. “
“El PMI de Caixin contrasts with an official survey released earlier this week, which showed activity in China’s service sector expanded at a faster rate in May. “
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
