China's service activity shrank in April... That's according to a private survey conducted by Markit and Caixin Media.

The service PMI for April came in at 51.8, compared to 52.2 the previous month. But the index has been well above the 50 mark that separates expansion from contraction since March this year. The compiler says new orders in April hit its highest level in three months. That was offset by a slowdown in the service industry's output. The compiler also issued its survey on China's factory activity early this week which shows manufacturing PMI for April fell to 49.4 from March's 49.7, after the Chinese official statistics posted a slide but the second consecutive month above 50 in April.