Non-manufacturing sector loses steam, putting jobs under pressure
The expansion pace of China’s non-manufacturing industries decelerated to a nine-month low in June, in line with the weakest factory activity in four months, suggesting higher downside risk to second-quarter economic growth.
The non-manufacturing Purchasing Managers’ Index in June dropped to 53.9 from 54.3 in May, indicating a slower expansion of the service and construction sectors, the National Bureau of Statistics said on Wednesday.
The small slip in June mainly reflected the seasonal factor in construction activity, said Cai Jin, vice-chairman of the China Federation of Logistics and Purchasing.
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Chen Jia via CHINA US Focus http://feedproxy.google.com/~r/ChinaUsFocus/~3/LQCsyF04G68/
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