China's Service Sector Growth Slows Down in June: Caixin PMI Report

Wednesday, 3 July 2024, 01:46
The latest Caixin data reveals that China's services PMI for June stood at 51.2, falling short of the expected 53.4 and lower than the previous month's 54.0. This indicates a slowdown in the growth of the service sector in China. The data suggests potential challenges in the economy's service industry and raises concerns about the overall economic performance.
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China's Service Sector Growth Slows Down in June: Caixin PMI Report

China's Caixin June Services PMI

This month, the service PMI figure for China was 51.2, which was below the expected 53.4 and previous month's 54.0.

Concerns Arise

  • Slower Growth: The data indicates a deceleration in the growth rate of the service sector.
  • Economic Impact: This shortfall raises concerns about the overall economic health of China.

China's service sector faces challenges with lower PMI figures, emphasizing potential economic issues.

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