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China’s Service Industries Expand at Faster Pace, Survey Shows
China’s service industries expanded at a faster pace last month, a sign the world’s second-largest economy may be stabilizing after a two-quarter slowdown. The non-manufacturing Purchasing Managers’ Index (CPMINMAN) rose to 54.1 in July from 53.9 in June, the Beijing-based National Bureau of Statistics and China Federation of Logistics and Purchasing said today. A separate gauge from HSBC Holdings Plc and Markit Economics will be released on Aug. 5. Faster growth in non-manufacturing industries may bolster investors’ confidence that China can achieve its 2013 target for expansion in gross domestic product ... (full story)
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