China's services sector expanded at the slowest pace in four months in Febr...
BEIJING - China’s services sector expanded at the slowest pace in four months in February, pressured by fewer new orders at home and abroad, a private survey showed on Tuesday, underlining growing strains on the economy and a challenging outlook for businesses this year.
The findings were largely in line with those of an official gauge of the non-manufacturing sector released last week, which showed services activity cooled in February after rebounding for two straight months. Job creation in the services sector also eased off to grow at only a marginal pace, which is sure to keep policymakers wary as Beijing will be keen to avoid significant job losses lest it stokes social instability.
Caixin’s composite manufacturing and services PMI, also released on Tuesday, slipped to 50.7 in February from 50.9 in January.
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