May the new financial services PMI continued to fall

According to the survey results, an independent research organization,May Chinese service sectorThe weak growth in the second consecutive month.

In May, the new wealth China ServicesBusiness Activity Index(Caixin-Markit services PMI) than last month fell 0.6 percentage points to 51.2, from the ups and downs of the line 50 one step closer. The latest reading of the index, almost one percentage point lower than the May reading of official surveys. This reading focuses on the new fiscal smaller private enterprises, while the official investigation mainly follow-up study of large state-owned enterprises operating activities.

The decline in the closely watched reading, reflecting falling and this is accompanied by a service provider received new orders grew weak. Although the service industry recorded a month and employment growth, but the growth rate has reached the limit. Some enterprises are reported, in May due to a reorganization plan to stop the recruitment of new employees.

Service ProviderThe costs continue to increase slightly, prompting enterprises to improve the output prices, the rate of increase in April and were flat. However, the prospects for the next 12 months, business confidence fell to the lowest this year, only about 19 percent of the surveyed firms expect business activity to increase over the next year.