Growth in China’s services industries slowed in December, separate surveys have found, echoing a slowdown in manufacturing and confirming views that the economy lost steam at the end of last year.
HSBC on Monday released its purchasing managers’ index for services, compiled by Markit Economics, showing a drop to 50.9 in December, its lowest level since August 2011, from 52.5 in November. But the figure remained above the 50-point level that indicates expansion in activity. New business growth was the slowest in six months.
A similar survey by China’s National Bureau of Statistics, released Friday, also showed a slowdown in service sector growth in December, to a four-month low of 54.6, from the previous month’s 56.
Indexes from the government and HSBC last week showed that China’s factory activity slowed in December, suggesting the moderation in the country’s growth in the final quarter of 2013 was broad-based.
The weaker purchasing managers’ indexes contributed to a decline in Asian markets on Monday, on concern over whether China’s slowdown would continue into the first quarter.
link.
No comments:
Post a Comment