Release of S&P Global’s China Services PMI for July: 50.4

China's July Services PMI hit 50.4, missing the 53.9 forecast and 54.1 prior, signaling a sharp slowdown in sector expansion.

China’s S&P Global Services PMI for July came in at 50.4, lower than the expected 53.9 and the previous reading of 54.1. The significant slowdown indicates weakening momentum in the services sector, which may put pressure on market expectations for accommodative monetary policies.