Caixin China Services PMI, at 51.2, Drops from January's Figure

(Beijing) – The services sector expanded in February but at a slower pace than earlier in the year, as the Caixin China Purchasing Managers' Index for the sector came in at 51.2 points.

That is 1.2 points lower than the reading of 52.4 for January.

The Caixin Composite Output Index, which covers both the services and manufacturing sectors, fell into contraction territory hitting 49.4 points, down from the 50.1 in January. That means the overall business activity in China deteriorated last month.