China’s Services Growth Slows to Six-Month Low, Caixin PMI Shows

China’s services sector expanded at the slowest pace in six months in February as new orders shrank due to Covid-19 flare-ups, a Caixin-sponsored survey showed.

The Caixin China General Services Business Activity Index, which gives an independent snapshot of operating conditions in the sector, fell to 50.2 in February from 51.4 the previous month, according to the survey report released Thursday. A number above 50 indicates an expansion in activity, while a figure below that points to a contraction. The indicator is also known as the Caixin China services PMI.