Expansion in China’s Services Sector Slowed in April

Expansion in China’s services sector slowed in April, an official survey showed on Friday, in line with slower factory activity and reinforcing views that recovery in the world’s second-largest economy remains modest and faces risks.

China’s official purchasing managers’ index(PMI) for the non-manufacturing sector fell to 54.5 in April from 55.6 in March, the National Bureau of Statistics(NBS) said on Friday.

Slowing growth in services showed that subdued expansion in manufacturing has begun to feed through to the rest of the economy, though the services industry has so far weathered the global slowdown much better than the factory sector.

CNBC

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.