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China’s service sector expanded at slower pace in July as weak exports, employment weigh

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China’s services sector activity continued to grow in July, but at a slower pace as export orders remained sluggish and companies 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 indicates expansion in sector activity, while a reading . . .

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