Image: Reuters Berita 24 English - An official survey released on Wednesday showed that China's services sector grew at a slower rate i...
 |
| Image: Reuters |
Berita 24 English - An official survey released on Wednesday showed that China's services sector grew at a slower rate in August. This was because of tighter COVID restrictions and the worst heatwaves in decades, which hurt construction.
The official non-manufacturing purchasing managers' index (PMI) dropped to 52.6 in August, from 53.8 in July, data from the National Bureau of Statistics showed.
If the number is above 50, it means that activity is growing, while a number below 50 means that activity is shrinking.
During the summer vacation, COVID flare-ups in popular tourist destinations like the southern province of Hainan and the northwestern region of Xinjiang made it hard for people to travel and spend money.
The official composite PMI for China, which includes activity in both manufacturing and services, was 51.7, down from 52.5 in July.
