China official services PMI expands at slightly slower pace in August
BEIJING (Reuters) - Activity in China's services industry expanded again in August, but at a slightly slower pace than in the previous month, an official survey showed on Thursday.
The official non-manufacturing Purchasing Managers' Index (PMI) stood at 53.5 in August, compared to the previous month's reading of 53.9 and above the 50-point mark that separates growth from contraction on a monthly basis.
China is counting on growth in services to offset persistent weakness in manufacturing and exports that is dragging on the world's second-largest economy.
(Reporting by Yawen Chen and Elias Glenn; Editing by Kim COghill)
© Copyright Reuters Ltd. All rights reserved. The information contained in this news report may not be published, broadcast or otherwise distributed without the prior written authority of Reuters Ltd.
