: The services PMI rose to a four-month high of 52.9 in April from 52.3 in March, comfortably above the 50-point level that separates expansion from a contraction in activity on a monthly basis, according to Euro News. Some companies attributed part of the pick-up in new business to the strong stock market, which hit a seven-year peak in April, suggesting that the wealth effect had seeped into parts of the world second-biggest economy. Yet in a sign that China economy still faces strong headwinds, the HSBC/Markit China Services Purchasing Managers’ Index showed final prices of services hit a 15-month low in April as some firms were forced to cut prices to lift sales. But other firms reported greater stress. Companies also pared their business expectations, though the sub-index remained a good way above the 50-point level. Final prices charged slipped to 49.2 last month, a low not seen since January last year and pointing to further pressure on profit margins.
(news.financializer.com). As
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