The Purchasing Managers’ Index (PMI) for China’s services sector has fallen to 53.9 points in June, compared to the expansion of 57.1 registered in Mayaccording to the latest data released by Caixin on Wednesday.
Key points
The activity of the service sector expands at a slower rate amid a weaker rebound in sales.
Employment in the services sector increases for the fifth consecutive month.
Improves business confidence in the service sector.
Commenting on the China General Services PMI data, Dr. Wang Zhe, Senior Economist at Caixin Insight Group said: “Both supply and demand for services expanded further in June, but at a slower pace. Indicators of business activity and total new orders remained above 50 for the sixth consecutive month, but posted their lowest readings since January and December, respectively, as the services market experienced a weaker-than-expected recovery. “
“Foreign demand remained relatively stable as the lifting of travel restrictions boosted exports of servicesand the indicator of new export orders remained in expansionary territory for the sixth consecutive month,” Wang added.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
