CXSE - China's Caixin Services PMI eases to 52.7 in January
2024-02-05 01:35:44 ET
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The Caixin China General Service PMI inched down to 52.7 in January 2024 from December’s five-month high of 52.9 amid softer rises in new orders, marking the 13th straight month of expansion in services activity, signaling a further solid increase in service sector output, supported by firmer underlying demand conditions and new customer wins.
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The Caixin China General Composite PMI was at 52.5 in January 2024, edging lower from December's 7-month high of 52.6 while marking the 13th straight month of growth in private sector activity.
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The service sector expanded at a softer pace while factory activity maintained growth for the third month running.
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"Currently, the economy contends with significant challenges marked by numerous uncertainties and adverse factors," said Dr. Wang Zhe, senior economist at Caixin Insight Group. "Specifically, they are tepid demand, heightened employment pressures, and subdued market expectations. The status quo has yet to experience a fundamental reversal."
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Currency: ( CNY:USD )...
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