China's services activity growth hits 8-month low, Caixin PMI shows

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BEIJING: China's services activity expanded at the slowest pace in eight months and confidence hit a four-year low in June, dragged by slower growth in new orders, a private-sector survey showed on Wednesday, suggesting more economic stimulus is needed.

The new orders subindex fell to 52.1 in June from 55.4 the previous month.

The Caixin/S&P's composite PMI, which tracks both the services and manufacturing sectors, fell to 52.8 from 54.1.

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Category: EconomyBusiness

Markets: MalaysiaChina

Topics: Caixin Stimulus Services /Business/Business News Economy PMI

Source Website Secure: Yes (HTTPS)

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Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-03 @ 10:55:00 (2 days ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

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News ID: 21467438

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