China's services activity growth slows in December - official PMI - Metro US

China’s services activity growth slows in December – official PMI

FILE PHOTO: People look at the skyline of the Central Business District in Beijing

BEIJING (Reuters) – Activity in China’s services sector expanded at a slower but still strong pace in December, official data showed on Thursday, supported by pent-up demand as the recovery from the coronavirus gathered pace.

The official non-manufacturing Purchasing Managers’ Index (PMI) fell to 55.7 in December from 56.4 in November, data from the National Bureau of Statistics (NBS) showed. The 50-point mark separates growth from contraction on a monthly basis.

Though slower than manufacturing, China’s services sector, which includes many smaller and private companies, has posted solid growth thanks to strong domestic demand.

The official November composite PMI, which includes both manufacturing and services activity, fell to 55.1 from November’s 55.7.

(Reporting by Gabriel Crossley; Editing by Sam Holmes)

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