China's Caixin Services PMI Drops to 51.2 in June, Reflecting Decreased Growth Momentum

Wednesday, 3 July 2024, 01:58
The latest data reveals a worrying trend as China's services sector experiences a significant slowdown, with the Caixin PMI dropping to 51.2 in June from 54 in May. This marks an 8-month low and indicates a notable deceleration in new orders. The weakening performance raises concerns about the overall health of the Chinese economy, pointing towards potential challenges in the immediate future.
South China Morning Post
China's Caixin Services PMI Drops to 51.2 in June, Reflecting Decreased Growth Momentum

China's Services Sector Slowdown

The Caixin/S&P Global services PMI in China declined to 51.2 in June from 54 in May.

8-Month Low

This represents the lowest reading since October 2023, according to recent data.

Impact on New Orders

The drop in PMI suggests a slowdown in new order growth within the services sector, signaling potential challenges ahead.

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