China’s private sector logged a moderate growth in January, survey data from IHS Markit showed Wednesday.
The Caixin composite output index fell to 51.9 in January from 52.6 in December. A score above 50 indicates expansion.
The services Purchasing Managers’ Index for the service sector came in at 51.8, down from 52.5 a month ago.
Total new orders received by service providers expanded at a softer rate, in spite of a stronger increase in new work from abroad.
Firms registered a sustained rise in operating expenses, while efforts to help contain costs contributed to a broad stagnation of employment across the sector. Prices charged by service providers dropped slightly due to efforts to boost sales.
Nonetheless, firms recorded a stronger degree of optimism towards the year ahead, with business confidence improving to a 16-month high in January.
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