China May services PMI cools to 53.2

Growth in China's services industry cooled in May, an official survey showed on Monday, suggesting the country's worst economic downturn in at least six years may be deepening. The non-manufacturing Purchasing Managers' Index (PMI) edged down to 53.2, from April's 53.4, the National Bureau of Statistics said on its website. Growth in China's services companies has been more resilient than at its ailing factories, but the sector has succumbed to the broader economic cooldown in recent months.