September 3, 2014 / 1:10 AM / 4 years ago

China Aug official services PMI at 54.4 vs 54.2 in July

BEIJING, Sept 3 (Reuters) - Activity in China’s services sector recovered slightly in August, with the official purchasing managers’ index (PMI) for the industry rising to 54.4 from a six-month low of 54.2 in July, a government survey showed on Wednesday.

The official non-manufacturing purchasing managers’ index (PMI) was published by the National Bureau of Statistics.

A reading above 50 in PMI surveys indicates an expansion in activity while one below the threshold points to a contraction.

Services made up 46.1 percent of China’s gross domestic product in 2013, having overtaken manufacturing as the country’s biggest employer in 2011. The sector has weathered the global slowdown much better than the factory sector has.

Recent data showed the world’s second-largest economy is losing steam as a slowdown in the property sector appears to be deepening, putting pressures on the government to roll out fresh policy stimulus measures to support growth. (Reporting by Kevin Yao; Editing by Richard Borsuk)

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