China's services sector experienced its slowest expansion in eight months in August, according to a private-sector survey. Weak demand and ineffective stimulus measures have hindered the country's economic growth. Despite a surge in railway trips and box office earnings during the summer, the services sector failed to significantly improve. The official and Caixin manufacturing PMIs exceeded expectations, but the economy is still negatively impacted by weak services activity, sluggish demand, and a property downturn. The Caixin/S&P composite PMI also decreased slightly, indicating the eighth consecutive month of expansion but at the slowest rate since January.
