HSBC indicator for China services activity slows in June

BEIJING - Chinese service sector continued to expand in June, but at the slowest expansion rate since January, according to an industry index released by HSBC on Friday.

The HSBC/Markit China's services purchasing managers' index (PMI) was posted at 51.8 in June, down from 53.5 in May.

A reading above 50 indicates expansion, while a reading below 50 represents contraction.