Growth in China’s services sector edged down from a six-month high in June, with the purchasing manufacturing index (PMI) for the industry slipping to 55, government data showed on Thursday.
That compares with a reading of 55.5 in May, according to the National Bureau of Statistics. A reading above 50 in PMI surveys indicates growth on a monthly basis, while an outcome below the threshold points to a contraction in activity.
More economic indicators are suggesting that the world’s second-largest economy is steadying as a flurry of government stimulus measures start to kick in. The results in other similar surveys of Chinese factories earlier in the week have also been upbeat.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.