2021.02.0301:05:00UTC+00China Services Sector Slows In January - Caixin

The services sector in China continued to expand in January, although at a slower rate, the latest survey from Caixin showed on Wednesday with a services PMI Score of 52.0.

That's down from 56.3 in December, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

The rate of growth was the softest seen since the current period of expansion began last May, driven by slower rises in both manufacturing and services activity. Growth of composite new business also weakened during January.

Though strong overall, the rate of expansion was the least marked for nine months, with both goods producers and service providers noting slower increases in sales. At the same time, employment at the composite level grew only slightly, with job creation at services firms offsetting cuts at manufacturers.

The survey also showed that the composite index fell to 52.2 from 55.8 in December.