China Economy News: Caixin Services PMI Above 50 in August

Activity in China’s services sector improved in August as new orders picked up, a private survey revealed on Monday.

The Caixin/Markit services purchasing managers’ index (PMI) rose to 52.1, up from 51.7 in July but still below an 11-month peak of 52.7 in June.

Monday’s figure was also below than the government’s gauge. Last week, the official non-manufacturing PMI for August came in at 53.5.


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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.