05-08-2013, 01:29 PM
Domestic demand is the key for China growth story IMO...
China’s services sector defies economic slowdown
BEIJING — Activity in China’s services sector defied the country’s economic cooldown and expanded modestly in July, a private survey showed, as new business orders recovered from a multi-year low in a rare sign of resilience.
But the show of strength was tempered by a fall in prices charged by companies, suggesting demand was still too weak for firms to raise prices, which hit a nine-month low in July.
The HSBC/Markit Purchasing Managers’ Index (PMI) for the services industry stood at 51.3 in July, unchanged from June and just a whisker above a 20-month low of 51.1 struck in April.
A reading above 50 suggests business grew compared to a month ago, while an outcome below 50 points to contraction.
http://www.todayonline.com/chinas-july-s...steady-513
China’s services sector defies economic slowdown
BEIJING — Activity in China’s services sector defied the country’s economic cooldown and expanded modestly in July, a private survey showed, as new business orders recovered from a multi-year low in a rare sign of resilience.
But the show of strength was tempered by a fall in prices charged by companies, suggesting demand was still too weak for firms to raise prices, which hit a nine-month low in July.
The HSBC/Markit Purchasing Managers’ Index (PMI) for the services industry stood at 51.3 in July, unchanged from June and just a whisker above a 20-month low of 51.1 struck in April.
A reading above 50 suggests business grew compared to a month ago, while an outcome below 50 points to contraction.
http://www.todayonline.com/chinas-july-s...steady-513