India, May 6 -- China's service sector continued to expand in April but the pace of growth moderated slightly, survey results from S&P Global showed on Monday. The Caixin services Purchasing Managers' Index fell to 52.5 in April from 52.7 in the previous month. A reading above 50.0 indicates expansion in the sector.
The official PMI survey results also showed that the private sector growth moderated in April. The manufacturing PMI declined to 50.4 in April from 50.8 in March. The non-manufacturing PMI slid to 51.2 from 53.0 in March.
Despite the slowdown, the service sector expanded for 16 consecutive months, S&P Global said. The latest growth was driven by another strong growth in new business. The pace of increase in new work was the fa...