SaxoTV

Fragile China sees services stabilise

144 views
June 03, 2014 asia, asia growth, asian, asian markets, china, china 2014, china banks, china consumer spending, china credit bubble, china data, china deflation, china economy, china economy growth, china equity market, china gdp, china growth, china in 2014, china manufacturing, china mobile, china outlook, china pmi, china policy, china politics, china rates, china slowdown, china stimulus, china stock market, china trade data, growth, growth forecast, macro, macro economics, macro economy, macro event, macro events, macro policy, macro strategy, macroeconomics, pmi, policy, policy makers, rmb, saxo bank, saxo bank saxo tv, saxo bank trading floor, saxo bank tradingfloor.com, saxo tv, saxo tv saxo bank, saxo tv trading floor, saxo tv tradingfloor, saxo tv tradingfloor.com, saxobank, saxotv, services, services industry, services pmi, stimulus, stimulus programme, trading, tradingfloor, tradingfloor saxo bank, tradingfloor saxo tv, tradingfloor.com, tradingfloor.com insights, tradingfloor.com saxo tv, tradingfloorcom, yuan
China’s service sector has grown at its fastest rate for six months in May. The bounce is being seen as a result of the Chinese government’s mini stimulus package introduced in early April.

Non manufacturing PMI was 55.5 in May against 54.8 in April. Manufacturing PMI came out as 50.8 a rise from 50.4 in April. The positive data is being seen as vindication of the government’s economic policies in the face of falling growth.

Ben Cavender from China Market Research Group has been analysing the latest figures and predicts that the Chinese leadership will be cautious about introducing another package of measures aimed at boosting economic activity.