Chinese services Purchasing Managers' Index (PMI) unexpectedly fell to 52.5 in Februaryup from 52.7 in January, according to the latest data released by Caixin on Tuesday.
The market forecast was 52.9.
Key points
Business activity growth softens amid slight rebound in new orders.
The number of employees falls for the first time in three months.
The sharp increase in costs causes a new rise in production prices.
Commenting on the China General Services PMI™ data, Dr. Wang Zhe, Senior Economist at Caixin Insight Group said: “Supply and demand continued to expand in February at a similar pace to the previous month amid market rally“.
“Business activity and total new orders grew for the 14th consecutive month. “Service exports increased for the sixth consecutive month, with the corresponding indicator reaching its highest level since June,” Wang added.
Source: Fx Street
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