Wrapping up the PMIs from China for last month.
Services 55.1
expected 56.2, prior 56.3
Composite 53.8
prior 54.7
Falls for both and both still in expansion.
From the report:
- fall in overseas demand
- gauge of export orders into contraction
- rrowth in total new orders slipped
- services firms increased their staffing levels for the third straight month
- inflation pressures - input costs rising at a sharper rate in May and reports of more expensive raw materials, energy, staff and transport