Growth in China Services Sector Slows as Exports Shrink, Caixin PMI Shows

Activity in China’s services sector expanded for an eighth straight month in August, but the pace was the slowest this year, a Caixin-sponsored survey showed Tuesday.

The Caixin China General Services Business Activity Index, which provides an independent snapshot of operating conditions in services industries such as retail and travel, dropped to 51.8, the lowest this year, from 54.1 in July. A reading above 50 indicates an expansion in activity, while a number below signals a contraction.