A private survey of China’s services sector showed activity expanded at the slowest rate this year in August, as the economy’s darkened outlook and ongoing property turmoil hold people back from spending.
The Caixin services purchasing managers’ index fell to 51.8 last month from 54.1 in July, Caixin and S&P Global said in a statement Tuesday. While the reading was still above the 50 line that separates expansion from contraction, it was the weakest pace since December.