(Yicai Global) June 5 -- China's service sector continue to expand last month, but the expansion rate may slow down a bit, the most recently released Caixin purchasing managers' index for services shows.
 

The Caixin May services PMI was down 1.8 point from April at 52.7, according to the Caixin data. Market forecasts had envisaged a more moderate 54.0.
 

China has two key PMIs. The official PMI is run by the state and comprises 3,000 companies, most of which are large and state-backed, and the Caixin index, often known as the Caixin-Markit Index, by Beijing-based Caixin Media, samples 500 businesses that are typically smaller and privately owned.
 

A number above 50 in either index indicates expansion; a figure below 50 suggests contraction.
 

The May Caixin composite PMI, which measures output in both manufacturing and services, was down 1.2 point at 51.5.

Editor: Ben Armour