Sunday, 5 May 2013

Economic Buzz: HSBC China Services Index Dips In April

The HSBC China Services Business Activity Index recording 51.1 in April, down from 54.3 in March, the services survey headline index signaled the weakest expansion of service sector activity since August 2011.

Commenting on the China Services and Composite PM data, Hongbin Qu, Chief Economist, China & Co-Head of Asian Economic Research at HSBC said: “The cooling of service sector activity in April likely reflected the knock-on effect of slower manufacturing growth, the impact of property tightening measures and the spreading bird flu. Again, this started to bite employment growth. All these are likely to add some risk to China's growth in 2Q, as there's still a bumpy road towards sustaining growth recovery.”

Source by Commodity Insights

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