China HSBC May services PMI grows modestly after soft patch

Activity in China’s services sector expanded modestly in May but the pace of growth was little changed from April, a private survey showed on Wednesday, adding to worries about slowing momentum in the world’s No.2 economy.

The HSBC/Markit Purchasing Managers’ Index (PMI) for the services industry inched up to 51.2 last month after seasonal adjustment, the second-lowest reading since August 2011 after 51.1 in April.

via Business feed http://www.scmp.com/business/economy/article/1253916/china-hsbc-may-services-pmi-grows-modestly-after-soft-patch