Business Standard

China service sector growth picks up in December

Services PMI rises to 54.1 in December from November's 53.9

Reuters Beijing

Growth in China's services sector picked up slightly in December, a government study showed on Thursday, helping to offset further weakness in manufacturing which is weighing on the world's second-largest economy.

The official non-manufacturing Purchasing Managers' Index, or PMI, rose to 54.1 in December from November's 53.9, well above the 50-point line that separates growth from contraction on a monthly basis.

A similar activity study showed growth in China's factory sector slowed as expected in December, underlining the challenges facing the government as it tries to avert a sharper economic slowdown.

Many analysts expect economic growth in the fourth quarter to slow marginally from 7.3% in the third quarter, suggesting full-year growth will undershoot the government's 7.5% target and mark the weakest expansion in 24 years.

 

 

 

 

 

 

 

 

 

 

(Reporting by Judy Hua and Ben Blanchard; Editing by Kim Coghill)

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First Published: Jan 01 2015 | 8:32 AM IST

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