China official services PMI expands at slightly slower pace in August
An employee works at a JD.com logistics centre in Langfang, Hebei province, November 10, 2015. REUTERS/Jason Lee/File Photo
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)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Analysis-The glitch in Japan's plans to bolster U.S. defence
- Asia stocks, yen tentative with eyes on BOJ decision
- Trump's three US Supreme Court appointees thrash out immunity claim
Create E-mail Alert Related Categories
ReutersSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!