SERVICE activity at China’s private and export-oriented firms rebounded slightly in May after growing at the slowest pace in 20 months in April, another sign pointing to a fragile recovery in the world’s second-largest economy.
The HSBC China Service Purchasing Managers’ Index, a gauge of non-manufacturing activities in mainly private and export-oriented sectors, stood at 51.2 last month after seasonal adjustment, HSBC Holdings Plc and Markit Economics said in a report yesterday.
This was nearly flat from April’s 51.1, the lowest reading since August 2011. A reading of 50 or higher indicates expansion.
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Ye Zhen via CHINA US Focus http://feedproxy.google.com/~r/ChinaUsFocus/~3/LKDBxuBTV0E/
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