Purchasing Managers Index Caixin/Markit services PMI fell to 51.4 points in January in China from 53.1 seen in December. This is the lowest reading since August 2021. Still, the index remains above the 50 level, which separates between contraction and expansion in the sector.
”Service sector activity in China in January expanded at the slowest pace in five months, as a spike in local COVID-19 cases and containment measures hit new business and consumer sentiment while employment fellthe private poll showed on Monday,” Reuters reported.
About Caixin Service PM
China’s Caixin Services PMI, published by Markit Economics, is based on data compiled from responses to monthly questionnaires sent to purchasing executives at more than 400 private companies in the services sector. The panel has been carefully selected to accurately reproduce the true structure of the service economy.
Source: Fx Street
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
