The purchasing managers index for China's service sector remained unchanged at 51.3 in July compared with June, indicating China’s sector continued expanding at a moderate pace. The HSBC China Service Sector PMI also showed new orders grew at the fastest pace since March. The expanding service sector was compared with weaker manufacturing activity whose HSBC PMI declined from 48.2 in June to 47.7 in July, the lowest level in 11 month and third straight month the reading fell below the 50 critical point that divides contraction and expansion compared with the previous month. However, the official service PMI rose 0.2 percentages points from June to 51.4 in July, while the official manufacturing PMI rose slightly to 50.3 in July.
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