Friday , January 22 2021

China / Indicators-Strong Growth of PMI-Caixin Services



BEIJING, February 3 (Reuters) – Key Chinese economic indicators issued since the beginning of the month:

* UNITARY COUNTRY OF THE PMI SERVICES IN JANUARY – CAIXIN

February 3 – Growth in the Chinese services sector remained firm in January, despite a slight slowdown of the previous month, thanks to a surge in new business, according to the results published in the Sunday by the Caixin / Note to the purchasing managers.

The PMI services calculated by Caixin / Markit were 53.6 last month, after 53.9 in December, well above the 50 threshold between compression and expansion.

New business growth increased to 52.6 in January from 52.3 per month.

For the composite index, which includes services and industry, growth has slowed down as the manufacturing sector contracted at its lowest point since February 2016. It was 50.9 per cent. after 52.2 in December.

The services sector accounts for more than half China's gross domestic product (GDP).

* PMI CONTRACT THE PMI'S COMPANY IN 3TH YEARS-CAIXIN

February 1 – Chinese manufacturing activity is experiencing its ultimate compression in January for almost three years, due to the long slow down in new orders and production, showing the results published Friday of the survey conducted by Caixin / Note to the purchasing managers.

The PMI rejected manufacturing calculated by Caixin / Markit for the second month in a row, standing at 48.3 last month after 49.7 in December.

This is the biggest constraint ever since February 2016, while economists appointed by Reuters expect a slight reduction to 49.5, just below the 50-inch threshold between compression and expansion.

This reduction is in particular due to the concerns expressed for new orders, with an index of 47.3, the lowest since September 2015.

Due to the slowdown in demand, industrial production suffered its first restriction in 31 months.

* Indicators published in January (Economic Service)


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