HSBC services PMI recorded at 53.1 in July.

By bne IntelliNews August 7, 2012
China's HSBC Services Purchasing Managers' Index (PMI), a measure of service sector activity, increased to 53.1 in July this year, as compared to 52.3 registered in June. As reported by Dow Jones Global Equities News, the increase in the index is likely to assist easing the concerns that the economy has not bottomed out. However, the rate of growth indicated by the composite PMI remained only modest and is not adequate to affirm a meaningful revival.

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