BEIJING : China's services activity expanded at the slowest pace in eight months in August, a private-sector survey showed on Tuesday, as weak demand continued to dog the world's second-largest economy and stimulus failed to meaningfully revive consumption.The Caixin/S&P Global services purchasing manager
BEIJING : China's services activity expanded at the slowest pace in eight months in August, a private-sector survey showed on Tuesday, as weak demand continued to dog the world's second-largest economy and stimulus failed to meaningfully revive consumption.
Although both the official and the Caixin manufacturing PMIs beat market expectations and showed an increase from July to August, softening services activity still weighs on the economy amid sluggish demand and a property downturn. Beijing has released a series of measures in recent months to revive slowing growth, with the central bank and top financial regulator last week easing some borrowing rules to aid homebuyers. But analysts warn these measures may struggle to move the needle amid a slowing labour market recovery and uncertain household income expectations.
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