PMI in the service sector of China in July slowed to 51.5 points

© Fotolia / Savvapanf PhotoВид in Beijing. Archival photoPMI in the service sector of China in July slowed to 51.5 points© Fotolia / Photo Savvapanf

The purchasing managers ‘ index (PMI) in the manufacturing sector of China’s economy in July, an independent survey by business magazine Caixin, has slowed its growth and amounted to 51.5 points.

The fall in July was insignificant compared to the figures of June, when the growth rate of 51.6 points.

According to data released last week, the state of the static Bureau of the PRC, in July the official PMI of China’s services slowed down to 54.5 points from 54.9 points in June. A reading above 50 indicating growth activity below — its decline.

The Chinese government supported services to offset the downturn in traditional sectors such as heavy industry. By the end of 2016 the share of services amounted to 51.6% of GDP, which was a record for China.

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