ChinaFotoPress/Getty ImagesGrowth across China’s services sector slowed to a crawl in December, fueling fears that economic growth within the country is faltering.
The latest Caixin-Markit services PMI gauge fell to 50.2 from 51.2 in November, the lowest level seen since July 2014.
The great hope for China’s economic transition — the nation’s services sector — saw activity levels slow modestly last month, according to the latest Caixin-Markit China services purchasing managers (PMI) report.
The PMI fell to 51.8 in April, 0.4 points below the 52.2 level struck in March.
Chinese industrial output, retail sales and fixed asset investment figures — known in markets as China’s “data dump” — have beaten across the board in August.
At face value, today’s numbers, along with those released in recent weeks, suggest that economic conditions improved noticeably last month.
Markit has new reports out today on service activity in China and Japan.The former shows a bit of growth, the latter contraction. Because the reports are diffusion indices that give no weighting to the size of the companies reporting, one must look at these reports with a broad brush.Japan Business Activity Contracts
Beijing (AFP) - China's manufacturing sector saw a surprise pick-up in September, a closely watched survey showed Tuesday, providing some respite after a string of weak data pointing to a slowdown in world's second-largest economy.
BEIJING (Reuters) - Growth in China's factories slowed slightly in December as export orders and output weakened, official data showed on Wednesday, adding to views that while the world's second-largest economy remains resilient, it lost some steam in late 2013.