Growth in China’s Services Sector Eases in May on Slower Export Sales

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The Caixin/Markit services purchasing managers’ index (PMI) fell to 52.7 in May, the lowest since February and down from April’s 54.5. The 50-mark separates growth from contraction. New export orders placed with Chinese services firms pulled back significantly from April’s multi-year high of 55.6 to 51.1, with a vast majority of companies surveyed reporting no change to export sales in May, the survey showed.

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