China's July services PMI drops to 50.4, missing 53.7 forecast
The ReadingDog Services PMI fell to 50.4 in July from 54.1 in June, well below the expected 53.7.
China's services sector expansion slowed sharply in July, according to the latest PMI data from RatingDog. The headline index declined to 50.4, down from 54.1 in June and below the market consensus of 53.7.
A reading above 50 still indicates expansion, but the magnitude of the miss points to a significant loss of momentum in services activity.
Source: FXStreet Forex News