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China’s economic recovery woes increase as services sector activity contracts

Summary:
[unable to retrieve full-text content]China’s services sector activity contracted in August to the second-lowest level on record, further adding to evidence of a slowing economy after the key indicator missed expectations.The official non-manufacturing purchasing managers’ index (PMI) – which measures morale in the services and construction sectors – fell to 47.5 in August, from 53.3 in July, data from the National Bureau of Statistics (NBS) showed on Tuesday.The figure was below the median forecast of a Bloomberg survey of…

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[unable to retrieve full-text content]
China’s services sector activity contracted in August to the second-lowest level on record, further adding to evidence of a slowing economy after the key indicator missed expectations.The official non-manufacturing purchasing managers’ index (PMI) – which measures morale in the services and construction sectors – fell to 47.5 in August, from 53.3 in July, data from the National Bureau of Statistics (NBS) showed on Tuesday.The figure was below the median forecast of a Bloomberg survey of…

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