Key facts
- China's services sector growth slowed to a 10-month low in July.
- The RatingDog China General Services PMI fell to 50.4 in July.
- The PMI was 54.1 in June.
- Growth in activity and new business moderated in China's services sector.
- Hong Kong retail sales increased by 4.6% in June.
- Hong Kong has seen 14 consecutive months of retail sales growth.
China's services sector activity slowed significantly in July, reaching its lowest expansion rate in 10 months. The RatingDog China General Services Purchasing Managers' Index (PMI) fell to 50.4 in July, a notable decrease from 54.1 recorded in June. This figure suggests a moderation in both overall activity and the pace of new business acquisition within the sector. The index's proximity to the 50-point mark, which separates expansion from contraction, indicates a weakening trend.