China services growth slows down in April

Suzie Neuwirth

GROWTH in China’s services sector slowed in April, corroborating market sentiment that the world’s second largest economy is still struggling to recover.

The Purchasing Manager’s Index (PMI) for China’s non-manufacturing sector fell to 54.5 last month, from 55.6 in March, according to the National Bureau of Statistics.

A figure above 50 indicates growth.

While not as badly affected as the manufacturing sector, which fell to 50.6 in April, today’s data shows that the slowdown in demand for Chinese exports is now feeding through into other areas of its economy.