China July official services PMI dips to 54.2 Growth in Chinas - TopicsExpress

China July official services PMI dips to 54.2 Growth in Chinas services sector retreated slightly in July, an official survey showed on Sunday, an indication that buoyant growth among Chinese factories has yet to fully filter through to the services industry. The services PMI followed two manufacturing surveys released on Friday that showed Chinas factory sector posting its strongest growth in at least 1-1/2 years last month, cementing bets that the economy is gathering steam after a spate of stimulus measures. Yet despite the slight pull-back in the services PMI, other measures suggested companies remained confident. China has unveiled a slew of modest stimulus measures since April to energise the economy, including relaxing the reserve requirements for some banks and hastening the construction of railways and public housing projects.

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