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China’s service sector PMI slows in April

by ChemOrbis Editorial Team -
  • 05/05/2016 (16:17)
According to a report released by Caixin China, a purchasing managers’ index (PMI) for China’s service sector decreased to a reading of 51.8 in April from March’s 52.2, indicating a slower rate of expansion. Any reading above 50 points suggests an expansion while any reading below that level points to a contraction.

Ongoing expansion in the services sector was attributed to interest rate cuts, a reserve requirement ratio reduction for banks and other stimulus measures implemented by the government.

Meanwhile, Caixin China’s manufacturing purchasing managers’ index (PMI) fell to a reading of 49.4 in April from a reading of 49.7 in March, missing Reuters’ economists’ estimates calling for a reading of 49.9. Caixin China’s composite PMI also softened to 50.8 from March’s 51.3.
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