China non-manufacturing activity expands more slowly in April – official PMI
2023.04.29 22:19
© Reuters. FILE PHOTO: A restaurant promoter wearing a traditional Chinese costume waits for customers, in Beijing May 8, 2014. Expansion in China’s services industry slowed slightly in April, with employment growth slipping to a seven-month low, a private survey sh
BEIJING (Reuters) – China’s non-manufacturing activity expanded at a slower pace in April, official data showed on Sunday, a discouraging sign for policymakers counting on services consumption to offset frailty in the factory sector amid slack global demand.
The official non-manufacturing purchasing managers’ index (PMI) stood at 56.4 versus 58.2 in March, according to data from the National Bureau of Statistics, above the 50-point mark that separates expansion and contraction in activity on a monthly basis.
The official composite PMI, which includes manufacturing and services, stood at 54.4, compared with 57.0 in March.
