China HSBC April services PMI sinks to lowest in nearly two years

Growth in China’s services sector slowed sharply in April to its lowest point since August 2011, a private sector survey showed on Monday, in fresh evidence that economic revival will remain modest and may be facing wider risks.

The HSBC services Purchasing Managers’ Index (PMI) fell to 51.1 in April from 54.3 in March, with new order expansion the slowest in 20 months and staffing levels in the service sector decreasing for the first time since January 2009.

via Business feed http://www.scmp.com/business/economy/article/1231277/china-hsbc-april-services-pmi-sinks-lowest-nearly-two-years