2020.02.0501:53:00UTC+00China Private Sector Expands Moderately In January

China's private sector logged a moderate growth in January, survey data from IHS Markit showed Wednesday.

The Caixin composite output index fell to 51.9 in January from 52.6 in December. A score above 50 indicates expansion.

The services Purchasing Managers' Index for the service sector came in at 51.8, down from 52.5 a month ago.

Total new orders received by service providers expanded at a softer rate, in spite of a stronger increase in new work from abroad.

Firms registered a sustained rise in operating expenses, while efforts to help contain costs contributed to a broad stagnation of employment across the sector. Prices charged by service providers dropped slightly due to efforts to boost sales.

Nonetheless, firms recorded a stronger degree of optimism towards the year ahead, with business confidence improving to a 16-month high in January.