China services PMI regains momentum after June low

Written by Reuters | Beijing | Updated: Aug 4 2012, 07:06am hrs
Chinas services firms regained some growth momentum in July, recovering from Junes 10-month low, a private-sector survey showed on Friday. The China HSBC services purchasing managers index (PMI) rose to 53.1 in July from 52.3 in June, reflecting a rise in new orders even as sales prices and costs remained broadly unchanged. Earlier on Friday, the official services PMI published by the National Bureau of Statistics showed the services industry slowing somewhat, to 55.6 in July from 56.7 in June, reflecting a slowdown in new orders and business activity sub-indexes.