CHINA's official service sector Purchasing Managers' Index fell to 53
CHINA's official service sector Purchasing Managers' Index fell to 53.7 from 54.2 in June, but stayed well above the 50-point mark that marks growth from contraction. The official Purchasing Managers' Index, which accounts for China's factory activity, was at 49.7 in July, slightly higher than 49.4 in June, the survey from the NBS showed. The 50-point mark separates expansion from contraction on a monthly basis.
China's services sector grew at a slower pace in July, while factory activity also continued to shrink for the third month in a row, according to the National Bureau of Statistics, indicating that the trade war with the US is having and impact.
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