BEIJING: China's purchasing managers' index (PMI) for non-manufacturing sectors rose to 60.1 in July from 57.4 in June, the China Federation of Logistics and Purchasing said on Tuesday, Aug 3, according to Reuters.
The index, based on a survey of purchasing managers at services firms, aims to provide a timely snapshot of conditions in the sector, which accounts for less than 45% of China's economy ' much less than in more developed countries.
The index comes on the heels of a pair of manufacturing PMIs that showed a further moderation in factory output growth in response to government steps to cool the property market and curb bank lending. ' Reuters
The index, based on a survey of purchasing managers at services firms, aims to provide a timely snapshot of conditions in the sector, which accounts for less than 45% of China's economy ' much less than in more developed countries.
The index comes on the heels of a pair of manufacturing PMIs that showed a further moderation in factory output growth in response to government steps to cool the property market and curb bank lending. ' Reuters
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