China July non-manufacturing activity expands at slower pace
9:44 pm Tuesday, July 30th, 2024
BEIJING (Reuters) – China’s non-manufacturing activity expanded more slowly in July, an official factory survey showed on Wednesday, pointing to slowing domestic demand for services and reinforcing how troubling a years-long crisis in the property sector is.
The official non-manufacturing purchasing managers’ index (PMI), which includes services and construction, slowed to 50.2 from 50.5 in June, according to the National Bureau of Statistics (NBS). The 50-point mark separates expansion from contraction in activity on a monthly basis.
The NBS composite PMI, which includes manufacturing and services, came in at 50.2 in June.
(Reporting by Joe Cash; Editing by Jacqueline Wong)
