China's services activity eases to 51.2 in June

Caixin China PMI landed at 51.2 in June, according to a report released by the S&P Global on Wednesday. This reading surpassed the neutral 50 mark.

However, June's PMI figure reduced from the previous month's 54.0, landing below analyst expectations.

"Supply and demand both continued to expand. Business activity and total new orders grew for the 18th month in a row, although at a slower pace. The gauge for the former recorded its lowest level in eight months, while that of the latter reached a four-month low. External demand remained strong, driven by robust tourism spending, with new export orders growing for the 10th straight month," Senior Economist at Caixin Insight Group Dr. Wang Zhe said in the published report.

Baha Breaking News (BBN) / KA