Private sector activity in China expanded at a slower pace in May, with the services sector growth slowing from April's 51.8 to 51.2. This marked the weakest pace of expansion in three months. New businesses rose only marginally in May with new orders in the services sector climbing at a weaker than expected pace. New orders for goods producers fell for the first time in three months as well. Employment in the services sector however showed an expansion while the manufacturing sector cut jobs steeply.
Markets Take June Rate Hike Off the Table
Daily Analysis - 06/06/2016