The China’s Caixin services PMI reached 50.3 points in June, compared to the 55.7 expected and the 55.1 of the previous month, showing a sharp slowdown in the country’s services activity in the reported month.
The composite production index down from 53.8 in May to 50.6 in June, which marked a weakening of the expansion of the services sector.
Keys:
They are the smoothest increases in activity and new work in 14 months.
The number of employees falls as capacity pressures ease.
Inflation rates for input costs and production charges are significantly decelerating.
Commenting on the China General Services PMI data, the Dr. Wang Zhe, Economista Senior de Caixin Insight Group, dijo:
“The June reading was the lowest since April 2020. The The service sector expanded for the fourteenth consecutive month in June, but the rate of expansion slowed significantly from the previous month. “
“Both supply and demand in the service sector expanded. Indicators for business activity and total new orders remained in positive territory for the fourteenth consecutive month in June, but both fell to their lowest level in 14 months. The recent resurgence of Covid-19 in the Pearl River Delta had some impact on the service sector. External demand improved marginally. The new export business indicator rose to positive territory, although the rate of expansion was marginal. “
.
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.
