The official NBS Non-Manufacturing PMI for China declined to 51.5 in July 2023 from 53.2 a month earlier. While pointing to the seventh consecutive month of increase in services activity following the removal of pandemic curbs by Beijing late last year, the latest result was the softest pace in the sequence.
The NBS Composite PMI Output Index in China was down to 51.1 in July 2023 from 52.3 in the previous month. It was the lowest figure since December 2022, amid sluggish economic recovery after Beijing removed strict pandemic measures late last year.
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