BEIJING (Reuters) – Growth in China's services delayed in April, showing an official survey on Tuesday, increasing uncertainty over demand in the world's second largest economy.
The official non-producing purchasing manager's index (PMI) fell to 54.3 in April from 54.8 in March, but was well above the 50-point mark separating growth from contraction.
Services account for more than half of China's economy, and rising salaries have increased consumer spending. But the sector softened late last year along with a slowdown in the broader economy.
The official April composition PMI, which covers both production and services, went down to 53.4 from March 54.0.
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