Growth in China's services sector slows in Jan - official PMI

January 30, 2021 8:24 PM EST

FILE PHOTO: A worker wearing a face mask works on a production line manufacturing bicycle steel rim at a factory, as the country is hit by the novel coronavirus outbreak, in Hangzhou, Zhejiang province, China March 2, 2020. China Daily via REUTERS


Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.

BEIJING (Reuters) - Activity in China's services sector expanded at a slower pace in January, official data showed on Sunday, weighed by a flare-up in new coronavirus outbreaks.

The official non-manufacturing Purchasing Managers' Index (PMI) slipped to 52.4 from 55.7 in December, data from the National Bureau of Statistics (NBS) showed. The 50-point mark separates growth from contraction on a monthly basis.

Though slower than manufacturing, China's services sector, which includes many smaller and privately owned companies, has gained solid growth thanks to strong demand.

The official January composite PMI, which includes both manufacturing and services activity, fell to 52.8 from December's 55.1.

(Reporting by Ryan Woo, Tina Qiao and Colin Qian; Editing by Sam Holmes)



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Reuters