China Services PMI down to 53.1

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Monday, Feb 06 2017

China Services PMI down to 53.1

The headline Caixin China General Services PMI was down 0.3 points to 53.1 in January 2017. New business continued to grow rapidly, though at a marginally slower rate than in the previous month; while input prices and output charges increased at faster rates. The Caixin China Composite Output Index came in at 52.2, down 1.3 points from the previous month and weaker than the average level in the fourth quarter of last year.

Manufacturing and services continued to expand in January. The economy continued to recover, but the expansion rate has slowed down. Meanwhile, inflationary pressures continued to build up as prices increased further. The economy is unlikely to maintain the pace of expansion seen in the fourth quarter of last year given that the manufacturing sector’s willingness to restock has declined. China’s economic growth may decelerate after the first quarter of this year.From Australia, on Monday, Retail Sales figures will be released. Analysts anticipate 0.4% increase. There will be no data releases in the US part of the session.

More in this category: « Australian Retail Sales unexpectedly declined by 0.1% German Factory Orders rose by 5.2% »

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