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Investing.com-- China’s services sector grew more than expected in July, private purchasing managers index data showed on Tuesday, as strong demand helped the sector duck a broader decline in business activity.
The S&P Global China services PMI rose to 52.6 in July from 50.6 in the prior month, while also beating expectations for a print of 50.4.
Services were buoyed by robust domestic and foreign demand, S&P Global said in a note. Domestic demand benefited from a slew of consumer-oriented stimulus measures from Beijing, while overseas demand was little impacted by U.S. trade tariffs, given that they apply largely to tangible goods.
The services PMI largely contrasted declines seen in manufacturing PMI data for July, as the latter was walloped by weak demand.
China’s services sector has remained a largely bright spot in an otherwise uncertain economic picture, having steadily expanded this year despite a slowdown in manufacturing.
Consumer demand for services has also remained strong, especially amid the growing popularity of food delivery and instant grocery services.
Strength in services also helped overall Chinese business activity log an expansion in July.