BEIJING: China's services activity expanded at the slowest pace in eight months in August, a private-sector survey showed on Tuesday, as weak demand continued to dog the world's second-largest economy and stimulus failed to meaningfully revive consumption.
The Caixin/S&P Global services purchasing managers' index (PMI) dropped to 51.8 in August from 54.1 in July, the lowest reading since December when COVID-19 confined many consumers to their homes. The 50-point mark separates expansion from contraction in activity.
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