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FILE PHOTO: A lightning streak appears over the horizon line of Shanghai, China on August 19, 2016. REUTERS / Aly Song
BEIJING (Reuters) – China's service-sector activity grew at a slower pace in July, an official survey said Wednesday, exerting pressure on Beijing, which is relying on the industry to deal with adverse consequences. for its manufacturers and for the Sino-Chinese economy. American commercial war.
The official non-manufacturing PMI rose from 54.2 in June to 53.7, but remained well above the 50-point mark that separates growth from contraction.
Services account for more than half of the Chinese economy and rising wages have increased the spending power of Chinese consumers in recent years. But the sector softened at the end of last year with the slowdown in the economy.
The July official composite PMI, which covers both manufacturing and services, increased only 53.1% to 53.1 in June.
Proceedings of Lusha Zhang and the Beijing Monitoring Bureau; Edited by Shri Navaratnam
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