7 May 2014
China services sector not expanding as much as expected
FXStreet (Bali) - HSBC China Services Business Activity Index came at 51.4 in April, down from 51.9 in March.
Commenting on the China Services and Composite PMI™ data, Hongbin Qu, Chief Economist, China & Co-Head of Asian Economic Research at HSBC said:
"Today's release showed that the service sector is still a relatively resilient part of the economy, but it is not expanding at a fast enough pace to offset the manufacturing slowdown. We think that the economy will continue on a modest path of expansion over the next few months”
Commenting on the China Services and Composite PMI™ data, Hongbin Qu, Chief Economist, China & Co-Head of Asian Economic Research at HSBC said:
"Today's release showed that the service sector is still a relatively resilient part of the economy, but it is not expanding at a fast enough pace to offset the manufacturing slowdown. We think that the economy will continue on a modest path of expansion over the next few months”