China’s June service sector activity expands at faster pace – official PMI

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BEIJING — China’s services sector activity expanded at the fastest pace in 13 months, after authorities ended a city-wide lockdown in Shanghai, an official survey showed on Thursday.

The official non-manufacturing purchasing managers’ index (PMI) rose to 54.7 in June – indicating the first activity expansion in four months – from 47.8 in May, data from the National Bureau of Statistics showed.

A reading above the 50-point mark indicates expansion in activity while a reading below indicates contraction.

China’s official composite PMI, which includes both manufacturing and services activity, stood at 54.1, compared with 48.4 in May. (Reporting by Ella Cao, Stella Qiu and Ryan Woo; Editing by Sam Holmes)

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