China’s services sector expanded at slower pace in July, weighed down by falling export orders and job losses

Growth in China’s services sector activity continued to grow in July but the pace slowed from a decade high the previous month as export orders remained weak and firms continued to shed workers, a private survey showed on Wednesday.The Caixin/Markit services purchasing managers’ index (PMI), which focuses on smaller, private firms, fell to 54.1 in July from 58.4 in June, which was the highest reading since April 2010. A reading above 50.0 indicates growth in sector activity, while a reading…

from South China Morning Post https://www.scmp.com/economy/china-economy/article/3096064/chinas-services-sector-expanded-slower-pace-july-weighed-down