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CHINA DATA
CHINA DATA: The Caixin China services PMI rose 1.4 points to 44.4 in April on a
monthly basis but remained in the contractionary zone below the breakeven 50,
indicating that the output of the service industry continues to decline but at a
slower pace.
- The new order sub-index declined for the third consecutive month, while the
new export order sub-index fell to the second lowest in record, indicating
shrinking demand both at home and overseas, said Caixin. 
- Service companies have reduced employment levels for the third month, with the
employment sub-index dropping to the lowest level in history, according to
Caixin.
- The increase reported by Caixin was in line with the official PMI for the
services sector, released April 30, which rose 0.3 points to 52.1.

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