BEIJING— China’s services activity grew at the slowest pace in three months in May, hit by a marked cooling in export sales, a private survey showed on June 5, as escalating Sino-U.S. trade tensions weighed on a key industry Beijing is counting on to support a slowing economy.
The Caixin/Markit services purchasing managers’ index (PMI) fell to 52.7 in May, the lowest since February and down from April’s 54.5. The 50-mark separates growth from contraction.
