(Caixin Global) China’s Caixin Services Purchasing Managers’ Index plunged to 50.3 in June, the lowest level in 14 months. The plunge reflected slowdowns in new export order expansion.
The services PMI was 4.8% below May as volumes of new export orders grew at a slow rate.
Analysts expect the service sector to face more challenges ahead
Confidence among business sector enterprises hit a nine-month low as the South China pandemic situation dented optimism.
Manufacturing PMI also fell to 51.3 in June, its lowest since April and 0.7% below May
Composite PMI hit the lowest in 14 months, after plunging to 50.6 in June
CSI 300 is up +0.092%, USDCNY is down -0.17%.
