China services sector lifts in June

China services sector lifts in June

By Peter Cai

Alan has been a trusted source of investment advice to Australians for many years, and in 2005 he founded Eureka Report - Australia’s #1 online investment report.

Along with Robert Gottliebsen and Stephen Bartholomeusz, Alan also founded Business Spectator, the popular business news and commentary website.

The services sector is becoming increasingly more important to China’s growth momentum and accounts for 49 per cent of the economy, according to China’s first quarter GDP data.

A statement from the China Federation of Logistics and Purchasing said China's non-manufacturing purchasing managers' index (PMI) printed at 55. 0 in June, after a read of 55. 5 in May.

The data are based on replies to monthly questionnaires sent to purchasing executives in 1,200 companies in 27 non-manufacturing sectors.

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The non-manufacturing PMI covers services including retail, aviation and software as well as the real estate and construction sectors.

Read more here: Business Spectator


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