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M. Continuo

China's July official services PMI dips to 54.2


    BEIJING (Reuters) - Growth in China's services sector slowed in July, with the official purchasing managers' index (PMI) for the industry dipping to 54.2, government data showed on Sunday.

    That compares with a reading of 55 in June, according to the National Bureau of Statistics. A reading above 50 in PMI surveys indicates an expansion in activity while one below the threshold points to a contraction.

    A spate of economic indicators released earlier this month suggested that the world's second-largest economy is experiencing a mild recovery as a flurry of government stimulus measures kick into effect.

    (Reporting by China Economics Team; Editing by Simon Cameron-Moore)