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China HSBC Services PMI soars in August

FXStreet (Bali) - China HSBC Services PMI (Aug) came at 54.1 vs 50.00 last with the HSBC Composite PMI (Aug) at 52.8 vs 51.6 prior.

Commenting on the China Services and Composite PMI data, Hongbin Qu, Chief Economist, China & Co-Head of Asian Economic Research at HSBC said: “The headline HSBC China Services PMI rebounded to a seventeen-month high of 54.1 in August, after registering an all-time low reading in July. Apart from the rebound in the headline number, other indices suggest a mixed picture rather than a broad-based improvement. The economy still faces downside risks to growth in the second half of the year from the property sector slowdown. We think policy makers should use further easing measures to help support the recovery.”

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