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China HSBC services PMI at 10-month low in June

Last Updated: Wednesday, July 4, 2012 - 10:34

Zeebiz Bureau

Beijing: China's services firms grew at their slowest rate in 10 months in June, a private sector survey showed on Wednesday.

The China HSBC services purchasing managers index (PMI) stood at 52.3 in June, down from 54.7 in May.

Analysts have said the extent of the slowdown in June this year was minimal compared with past years, which suggests that the economy is building up a foundation for stabilized growth.

In June, the sub-index for new export orders of the non-manufacturing sector stayed flat at 50.5 percent, the CFLP data showed.

The sub-index for intermediate input prices lost 1.5 percentage points to 52.1 percent while that for charges rose 0.1 percentage points to 48.6 percent, standing below 50 percent for the second month in a row.

With Agency Inputs

First Published: Wednesday, July 4, 2012 - 10:34
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