China services activity weakens in June - Caixin

China post-Covid pandemic recovery showed more signs of slowing on Wednesday as a private sector survey showed services activity expanded at its slowest pace in five months in June.

The Caixin/S&P Global services purchasing managers' index (PMI) fell to 53.9 in June from 57.1 in May, the lowest reading since January.

A 50-point mark separates expansion from contraction in activity.

The composite PMI, which includes both manufacturing and services activity, fell to 52.5 from 55.6 in May.

"Employment contracted, deflationary pressure mounted, and optimism waned in the manufacturing sector," said Caixin senior economist Wang Zhe.

"Meanwhile, the services sector continued a post-COVID rebound, but the recovery was losing steam."

Reporting by Frank Prenesti for Sharecast.com.