China services sector shows resilience

BEIJING – China’s services sector expanded modestly in July, defying a slowdown in economic growth as new business orders recovered from a multi-year low in a rare sign of resilience, a private survey showed on Monday. The HSBC/Markit Purchasing Managers’ Index (PMI) for the services industry stood at 51.3 in July, unchanged from June and just marginally above a 20-month low of 51.1 in April. …

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