China’s services sector expanded at the weakest pace in four months in July, as there was the least growth in new business since December 2015, a private survey showed on Friday.
Forward-looking sentiment meanwhile was the second-weakest on record, with respondents blaming concerns surrounding company restructuring and the impact of the U.S.-China trade war.
For July, the Caixin/Markit services purchasing managers’ index (PMI) fell to 52.8, the lowest since March, from June’s 53.9. The 50-mark separates growth from contraction.
The findings were largely in line with those of an official gauge of the non-manufacturing sector released on Tuesday, which showed the services PMI falling in July.