China’s Caixin Services PMI eases to 52.7 in January vs. 52.9 previous
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China’s Services Purchasing Managers’ Index (PMI) eased to 52.7 in January when compared to the December reading of 52.9, the latest data published by Caixin showed on Monday.
Commenting on the China General Services PMI ™ data, Dr. Wang Zhe, Senior Economist at Caixin Insight Group said: “The gauge has remained in expansionary territory for 13 straight months, indicating a sustained recovery in the services sector.”
“Supply and demand continued to expand in January, represented by growth in business activity and total new orders that carried into the 13th straight month,” Wang added.
Discouraging Chinese Services PMI adds to the downside in the Aussie Dollar, keeping AUD/USD on the back foot near 0.6500. The pair is trading 0.18% lower on the day at 0.6498, as of writing.
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