China’s services sector growth in April accelerated slightly amid concerns that China’s slowing growth may fall at a faster rate, Reuters reported, citing the National Bureau of Statistics. The purchasing manufacturing index (PMI) for the services industry edged up to 54.8 last month, up marginally from 54.5 in March. The mild improvement mirrors a marginal gain in the official PMI survey of Chinese factories in April. Still, the expanding services sector has weathered the country’s economic cooldown better. These figures come after Premier Li Keqiang promised he would not loosen policy in the face of short-term dips in economic activity.
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