China’s official purchasing managers’ index (PMI) for the services sector fell to 55.6 in July from 56.7 in June as growth in new orders eased, although a construction services sub-index strengthened, the National Bureau of Statistics said on Friday.
In a separate private survey by HSBC, it found that China’s services firms regained some growth momentum in July, recovering from June’s 10-month low, a private-sector survey showed on Friday.
The China HSBC services purchasing managers index (PMI) rose to 53.1 in July from 52.3 in June, reflecting a rise in new orders even as sales prices and costs remained broadly unchanged.
“Despite the uptick in the headline index, the rate of activity growth was again lower than the long-run trend for the survey,” wrote Markit Economics, which compiles the survey for HSBC.
via CNBC 
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