China’s services sector defies economic slowdown

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Domestic demand is the key for China growth story IMO...

China’s services sector defies economic slowdown

BEIJING — Activity in China’s services sector defied the country’s economic cooldown and expanded modestly in July, a private survey showed, as new business orders recovered from a multi-year low in a rare sign of resilience.

But the show of strength was tempered by a fall in prices charged by companies, suggesting demand was still too weak for firms to raise prices, which hit a nine-month low in July.

The HSBC/Markit Purchasing Managers’ Index (PMI) for the services industry stood at 51.3 in July, unchanged from June and just a whisker above a 20-month low of 51.1 struck in April.

A reading above 50 suggests business grew compared to a month ago, while an outcome below 50 points to contraction.

http://www.todayonline.com/chinas-july-s...steady-513
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
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