The National Bureau of Statistics Service Industry Survey Center chief
statistician Huo Lihui said China’s non-manufacturing business activity index
fell to 49.0 in July, down 1.2 ppt month-on-month, indicating a pullback in
non-manufacturing activity. The services business activity index declined to
49.3, down 1.1 ppt, showing softer market activity. Summer consumption lifted
leisure and travel, with air transport, accommodation and cultural and sports
entertainment activity indices rebounding markedly and related firms reporting
rapid volume growth. Wholesale and monetary/financial services posted larger
declines and were the main drag on the services reading. Capital-market services
and real estate remained below the 50 expansion-contraction threshold. The
services business activity expectation index stayed at 56.0, unchanged from
June, signalling stable near-term business confidence.
