China data -

Caixin Services PMI for July, 53.8

  • prior was 51.8

Caixin Composite PMI, 50.2

  • prior was 50.6

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July services PMI to its highest since August 2014

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More - comments from Markit/Caixin:

Caixin China Composite PMI covers both manufacturing and services:

  • signalled a further increase in Chinese business activity during July, but the weakest rate of expansion in 14 months
  • Slower rate of overall output expansion was predominantly driven by the manufacturing sector, which registered the quickest reduction of output since November 2011

Service sector business activity

  • Rate of growth accelerated to an 11-month high
  • The stronger rise in service sector activity was supported by a further increase in new business volumes in July
  • Furthermore, the rate of new order growth accelerated to a solid pace that was the second-fastest in eight months

Employment at service sector companies continued to increase in July

  • The rate of job creation picked up slightly since June
  • However, staff numbers continued to decline at manufacturing firms, albeit at a slower pace than in the previous month
  • At the composite level, employment declined for the second month in a row, though only marginally