China services growth softens in fresh sign of weakness
Wednesday, 5 July 2023
China’s post-pandemic recovery may be slowing as the Caixin China services purchasing managers’ index fell from 57.1 in May to 53.9 in June, a six-month low. The lower figure reflects reduced spending on services such as restaurants and travel, and a fall in consumer confidence and demand as a result of higher youth unemployment and a poor outlook for income.
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