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5 Aug 2013
HSBC China Services PMI shows modest expansion
FXstreet.com (Barcelona) - A modest expansion of business activity in the HSBC China Services Business Activity Index was observed, according to HSBC, with the indicator printing a 51.3 in July, unchanged from the previous month.
Commenting on the China Services and Composite PMI™ data, Hongbin Qu, Chief Economist, China & Co-Head of Asian Economic Research at HSBC said:“China’s service sector has stabilised at a relatively low level of growth. But the profit margin continued to be squeezed given the divergence between input prices and prices charged indices. Without a sustained improvement of demand, services growth is likely to remain lackluster, putting downside pressures to employment growth.”
Commenting on the China Services and Composite PMI™ data, Hongbin Qu, Chief Economist, China & Co-Head of Asian Economic Research at HSBC said:“China’s service sector has stabilised at a relatively low level of growth. But the profit margin continued to be squeezed given the divergence between input prices and prices charged indices. Without a sustained improvement of demand, services growth is likely to remain lackluster, putting downside pressures to employment growth.”