China’s Caixin services PMI for February came in at 51.5 vs. 52.0 last, which showed that the business activity grew at the slowest pace in ten months.
Key findings
Services activity growth eases to ten-month low.
Softer increase in total new work amid renewed drop in export sales.
Confidence regarding the 12-month business outlook remains robust.
Commenting on the China General Services PMI ™ data, Dr. Wang Zhe, Senior Economist at Caixin Insight Group said: “The Caixin China General Services Business Activity Index came in at 51.5 in February, declining for the third month in a row and hitting the lowest point since April 2020, as the momentum of postepidemic services recovery further weakened.”
more to come …
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