China’s services activities contracted in August for first time since March last year, manufacturing sector expands at slower pace

china services sector

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China’s services sector activity contracted in August to the second-lowest level on record, further adding to evidence of a slowing economy after the key indicator missed expectations.

The official non-manufacturing purchasing managers’ index (PMI) – which measures morale in the services and construction sectors – fell to 47.5 in August, from 53.3 in July, data from the National Bureau of Statistics (NBS) showed on Tuesday.

The figure was below the median forecast of a Bloomberg survey of analysts, which had predicted a fall to 51.9. It is the lowest . . .

 

 

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