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4 Feb 2015
Growth in the Chinese services sector eases in January
FXStreet (Bali) - As reported by HSBC, the rate of growth in the Chinese services sector eased in January, with the HSBC China Services Business Activity Index posting 51.8, down from 53.4 in December.
Commenting on the China Services and Composite PMI™ data, Hongbin Qu, Chief Economist, China & Co-Head of Asian Economic Research at HSBC said: “The headline HSBC China Services PMI fell to 51.8 in January from 53.4 in December. Both the input and output prices indices declined from the previous month. The new business index also fell while employment improved."
"The Chinese services sector continued to expand in January, albeit at a slower pace while both input and output price inflation eased. Given continued contraction of the manufacturing sector, we believe more easing measures are warranted to support growth in the coming months”, Qu added.
Commenting on the China Services and Composite PMI™ data, Hongbin Qu, Chief Economist, China & Co-Head of Asian Economic Research at HSBC said: “The headline HSBC China Services PMI fell to 51.8 in January from 53.4 in December. Both the input and output prices indices declined from the previous month. The new business index also fell while employment improved."
"The Chinese services sector continued to expand in January, albeit at a slower pace while both input and output price inflation eased. Given continued contraction of the manufacturing sector, we believe more easing measures are warranted to support growth in the coming months”, Qu added.