Free Demo Request

China January HSBC services PMI falls to 6-month low

Date 04-February-2015
Subject China January HSBC services PMI falls to 6-month low

BEIJING: China's services sector grew at the slowest pace in six months in January, a private survey showed, raising expectations that policymakers will need to unveil more stimulus measures to avert a sharper slowdown in the world's second-largest economy.

The HSBC/Markit Services Purchasing Managers' Index( PMI) fell to 51.8 last month - the lowest since July 2014 - from December's 53.4. But it remained above the 50-point level that separates contraction from growth in activity on a monthly basis.

A sub-index measuring new business eased to 52.5 in January, also a six-month low, but the sub-index measuring employment inched up as firms hired more workers for the 17th month in a row.

Official surveys showed on Sunday that growth in the services sector cooled to a one-year low in January, while the factory sector unexpectedly shrank for the first time in nearly 2-1/2 years.

The services sector has been the lone bright spot in China's economy.

China's economic growth slowed to 7.4 per cent in 2014 - the weakest in 24 years, from 7.7 per cent in 2013, even as the job-creating services sector outperformed the factory sector.

A further slowdown to around 7 per cent is expected this year, even allowing for additional stimulus measures, as a cooling property market, excess manufacturing apacity and slowing investment weigh on activity.

Source : economictimes.indiatimes.com

High-volume of Loyal
and Trusted Customers!

We feel pride in offering our customers the wide range of products of the top leading brands of the world.

BCG Binani
Godrej
Induslnd Bank
Indian Oil
ITC Limited
Jindal Steel Power
Milton
Paharpur
Philips
Reliance
TATA Chemicals Limited
The Times of India
Wipro
Yamaha
Dalmia Bharat Cement
JCB
Pernod Ricard