BEIJING (Reuters) – China’s non-manufacturing activity expanded at a much slower pace in June, an official survey showed on Sunday, as consumers remained cautious about spending amid the property crisis and the boost from the May holiday faded.
The official Purchasing Managers’ Index (PMI) for the non-manufacturing sector, which includes services and construction, fell to 50.5 from 51.1 in May, according to data from the National Bureau of Statistics.
The composite PMI, which includes manufacturing and services, hit 50.5 in June, up from 51.0 in May.
The 50-point mark separates the expansion from the contraction of activity on a monthly basis.