China Services Activity Maintains Growth, but at Slower Pace, Caixin PMI Shows

Activity in China’s services sector grew for a 13th straight month in January, but at a slightly slower pace than the previous month, as total new orders increased at a lower rate, according to a Caixin-sponsored survey released Monday.

The Caixin China General Services Business Activity Index, which provides an independent snapshot of operating conditions in industries such as retail and tourism, fell 0.2 points in January from the previous month to 52.7. A reading above 50 indicates an expansion in activity, while a number below signals a contraction.