China’s Services Sector Expands at Slower Pace in July: Caixin PMI

People wearing face masks to prevent the spread of the (COVID-19) wait at an entrance to a labor arbitration office in Beijing, China, on April 9, 2020. Martin Pollard/Reuters

BEIJING—Growth in China’s services sector slowed in July from a decade high the previous month, as new export business fell and job losses continued, an industry survey showed on Wednesday, pointing to cracks in the sector’s post-COVID recovery.

The Caixin/Markit services Purchasing Managers’ Index (PMI) fell to 54.1 from June’s 58.4, which was the highest reading since April 2010. The 50-mark separates growth from contraction on a monthly basis.