China economy: services sector growth slows in June

Source: China – South China Morning PostActivity in China’s services sector grew at a slower pace in June, official data showed on Wednesday as coronavirus curbs from a resurgence in cases in Southern China restrained a rebound in consumption.The official non-manufacturing purchasing managers’ index (PMI) fell to 53.5 in June from 55.2 in May, data from the National Bureau of Statistics (NBS) showed. The 50-point mark separates growth from contraction on a monthly basis.Analysts say China’s economic recovery is moving in a more even…Read More

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