China official services PMI expands at slightly slower pace in August

August 31, 2016 9:12 PM EDT

An employee works at a JD.com logistics centre in Langfang, Hebei province, November 10, 2015. REUTERS/Jason Lee/File Photo


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BEIJING (Reuters) - Activity in China's services industry expanded again in August, but at a slightly slower pace than in the previous month, an official survey showed on Thursday.

The official non-manufacturing Purchasing Managers' Index (PMI) stood at 53.5 in August, compared to the previous month's reading of 53.9 and above the 50-point mark that separates growth from contraction on a monthly basis.

China is counting on growth in services to offset persistent weakness in manufacturing and exports that is dragging on the world's second-largest economy.

(Reporting by Yawen Chen and Elias Glenn; Editing by Kim COghill)



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