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CAIXIN PMI Services down in August

CHINA DATA
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  • China’s services activity grew less than anticipated today’s CAIXIN PMI Services Release showed.
  • CAIXIN China PMI Services Release declined to 51.6 in August, down from 52.1 in July and survey forecast of 51.8.
  • The IMF has noted in research that China’s services sector relative to peers, is an ‘underutilized driver of growth’.
  • Policy efforts this year to support the slowing economy have appeared yet to be making an impact and today’s data only adds to the concern.
  • Weighing down on all parts of the economy has been a declining real estate sector which has continued to negatively impact consumer behavior over recent years.
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  • China’s services activity grew less than anticipated today’s CAIXIN PMI Services Release showed.
  • CAIXIN China PMI Services Release declined to 51.6 in August, down from 52.1 in July and survey forecast of 51.8.
  • The IMF has noted in research that China’s services sector relative to peers, is an ‘underutilized driver of growth’.
  • Policy efforts this year to support the slowing economy have appeared yet to be making an impact and today’s data only adds to the concern.
  • Weighing down on all parts of the economy has been a declining real estate sector which has continued to negatively impact consumer behavior over recent years.