China services sector growth picks up in July - Caixin.
Activity in China’s services sector picked up in July, according to a survey released on Monday.
Source: Sharecast
The Caixin/S&P Global purchasing managers’ index rose to 52.1 from 51.2 in June. This marked the 19 month of expansion in a row and was ahead of consensus expectations for a reading of 51.4.
A reading above 50.0 indicates expansion, while a reading below signals contraction.
The survey also showed that the new orders sub-index increased to 53.3 in July from 52.1 the month before.
Wang Zhe, senior economist at Caixin Insight Group, said: "Prices at the composite level remained weak, on the sales front in particular, further squeezing the space for company profits."
Compare our accounts
If you're looking to grow your money over the longer term (5+ years), we have a range of investment choices to help.
Halifax is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.
