Services sector expands with manufacturing

PMI rebounds to 15-month high in June alleviates concerns over growth slowdown, economists say

Activity in China's services sector expanded at its fastest pace in 15 months in June, said a private survey released on Thursday, further reinforcing signs of a steady recovery in the world's second-largest economy.

The HSBC/Markit services Purchasing Managers Index hit a 15-month high in June, rebounding to 53.1 from 50.7 in May, well above the 50-point level that separates expansion in activity from contraction.