Activity in China's services sector grew at a slower pace in April but remained well in expansionary territory, official data showed on Friday, as the domestic consumption recovery continued.
The official non-manufacturing Purchasing Managers' Index (PMI) slipped to 54.9 from 56.3 in March, data from the National Bureau of Statistics (NBS) showed. The 50-point mark separates growth from contraction on a monthly basis.
While the recovery in China's services sector, which includes many smaller and private companies, has lagged manufacturing, a gradual improvement in consumption has supported activity.
The official April composite PMI, which includes both manufacturing and services activity, fell to 53.8 from March's 55.3.
Source Reuters