The service sector in China grew less rapidly in July than in June. This was evident from the purchasing managers index of market researchers Caixin and Markit.
The purchasing managers’ index for the services sector recorded a score of 51.6 against 52 a month earlier. A level of 50 or less indicates shrinkage. Economists generally counted on a score of 52
According to the researchers, the composite index, including industry, showed a score of 50.9 for July compared to 50.6 in June.
Abaigael Schlomski is an accomplished economist and financial journalist with over a decade of experience in the industry. He is a regular contributor to EconomicInform, where he provides in-depth analysis and expert commentary on the latest economic trends and events. With a keen understanding of the financial markets and a talent for breaking down complex economic concepts for a general audience, Maurice is a trusted and respected voice in the field.