Services Sector Grew in July, Caixin China PMI Shows

(Beijing) – The services sector of the economy grew robustly in July, with the Caixin China Purchasing Managers' Index hitting 53.8 points – the highest figure in 11 months.

The Caixin China Services PMI for June was 51.8 points. A PMI reading above 50 signifies growth, and one below that indicates contraction.

The new orders category showed the second-fastest growth in eight months.