China Services PMI Slips to 50.4, Hitting 2-Year Low
Updated
Updated · Bloomberg · Aug 5
China Services PMI Slips to 50.4, Hitting 2-Year Low
3 articles · Updated · Bloomberg · Aug 5
Summary
50.4 was the July reading for the RatingDog China services PMI, down sharply from 54.1 in June and marking the weakest expansion in nearly two years.
The gauge still stayed above the 50 line that separates growth from contraction, but the drop missed economists’ median forecast by a wide margin.
Businesses turned more cautious as the economy showed increasing signs of further weakness, reinforcing concern that China’s services sector is losing momentum.