China services sector growth slowest since August: HSBC PMI

China’s services sector saw its slowest rate of expansion in nearly a year and a half in December, a private sector survey showed on Friday, in another piece of evidence that a fourth-quarter economic growth revival will remain modest.

The HSBC services Purchasing Managers’ Index (PMI) for December softened to 51.7 in December from 52.1 in November. The December reading was the lowest since August last year.

A reading above 50 indicates growth is accelerating, while one below 50 indicates it is slowing.

via Business feed http://www.scmp.com/business/economy/article/1119668/china-services-sector-growth-slowest-august-hsbc-pmi