Growth in China's services sector accelerates in May - official PMI

Activity in China's services sector expanded at a faster pace in May, official data showed on Monday, as domestic consumption continue to grow at a modest pace. The official April composite PMI, which includes both manufacturing and services activity, rose to 54.2 from April's 53.8.

Activity in China's services sector expanded at a faster pace in May, official data showed on Monday, as domestic consumption continue to grow at a modest pace. The official non-manufacturing Purchasing Managers' Index (PMI) rose to 55.2 from 54.9 in April, data from the National Bureau of Statistics (NBS) showed. The 50-point mark separates growth from contraction on a monthly basis.

Though slower than manufacturing, a gradual improvement in consumption has stimulated activity in China's services sector, which includes many smaller and private companies. The official April composite PMI, which includes both manufacturing and services activity, rose to 54.2 from April's 53.8.

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