BEIJING Aug 5 China's services sector grew at
its slowest pace in nearly nine years in July as new business
slowed to a trickle, a private survey showed on Tuesday,
indicating a recovery in the broader economy is still fragile.
The services purchasing managers' index(PMI) compiled by
HSBC/Markit fell to 50.0 in July from 15-month high of 53.1 in
June, the lowest reading since November 2005 when the data
The survey pointed to a stagnation of service activity as a
reading above 50 in PMI surveys indicates an expansion in
activity while one below the threshold points to a contraction.
In a sign that companies have grown more reluctant to spend,
a sub-index measuring new business growth hit a 68-month low of
50.3 in July.
(Reporting By Xiaoyi Shao and Koh Gui Qing; Editing by Kim