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China's April official services PMI dips to 53.4

[SHANGHAI] Activity in China's services sector expanded in April but at a slightly slower pace than in March, in another sign that the economy may be losing momentum.

The HSBC/Markit China Services Purchasing Managers' Index (PMI) fell to 53.4 in April, compared with March's 53.7, but remained well above the 50-point level that separates growth from a contraction in activity on a monthly basis.