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China's services sector activity expands at slower pace in August - official PMI

时间:3周前   阅读:2

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BEIJING: China's services activity expanded at a slower pace in August, an official survey showed on Wednesday, amid tighter COVID-related restrictions and the worst heatwaves in decades, which have affected construction.

The official non-manufacturing purchasing managers' index (PMI) dropped to 52.6 in August, from 53.8 in July, data from the National Bureau of Statistics showed.

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A reading above the 50-point mark indicates expansion in activity while a reading below indicates contraction.

Domestic flights were disrupted by COVID flare-ups in popular tourist destinations including the southern province of Hainan and northwestern Xinjiang region amid the summer vacation, hammering consumer confidence to travel and spend.

China's official composite PMI, which includes both manufacturing and services activity, stood at 51.7, compared with 52.5 in July. (Reporting by Ellen Zhang and Ryan Woo; Editing by Sam Holmes)


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