China June official services PMI rises to 55.0

BEIJING, June 30 — Growth in China’s services industry picked up slightly in June, an official survey showed today, as the sector extended a run of strong activity.

The official non-manufacturing Purchasing Managers’ Index (PMI) rose to 55.0 from 54.9 in May, well above the 50-point mark that separates growth from contraction.

The services sector accounts for more than half of China’s economy, with rising wages giving Chinese consumers more spending power.

The composite PMI covering both manufacturing and services activity fell to 54.4 in June, from May’s 54.6, also staying above the 50-mark that separates expansion from contraction. — Reuters