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HSBC China Services PMI
April data pointed to renewed growth of business activity in China, with the HSBC Composite Output Index rising from 49.9 to 51.4. The latest index reading nonetheless signalled a modest rate of expansion. At the sector level, manufacturers recorded a marginal drop in output, while service providers noted stronger growth from one month earlier. The latter was highlighted by a rise in the seasonally adjusted HSBC Services Business Activity Index from 53.3 to a six-month high of 54.1 in April. Where a rise in service sector activity was registered, panellists commonly linked growth to higher intakes of new business. ... (full story)