Economic Buzz: China Caixin Services PMI Expands At Slower Pace In January

7 Feb 2022 , 09:07 AM

China services sector continued to expand in January, albeit at a slower pace, the latest survey from Caixin showed on Monday with a PMI score of 51.4. Thats down from 53.1 in December, although it remains well above the boom-or-bust line of 50 that separates expansion from contraction. The rate of growth was the slowest seen in the current five-month sequence of expansion. Total new orders rose marginally at the start of 2022, with the upturn the second-slowest seen since sales returned to growth last September. The softer rise in new work was in part due to weaker external demand. New export orders fell for the first time in four months and at the quickest pace since October 2020. The survey also showed that the composite index slipped to 50.1 in January from 53.0 in December.

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