China services sector sees fastest growth in four months: survey
(02-05 11:14)
China sees its services sector expanding the fastest in past four months, as the HSBC China Services Business Activity Index went up to 54.0 in January from 51.7 in December.
The growth in index was backed by new business, which rose at its fastest pace in eight months, though the level of outstanding business fell for a 12th month, HSBC said.
"Still solid job gains plus higher business expectations bode well for further improvement of services sectors’ growth. Following the growth bottoming out in fourth quarter in 2012, China’s growth recovery is now on a firmer footing," HSBC chief economist Qu Hongbin.
The release follows last week's HSBC manufacturing PMI report for January, which showed the headline rising to 52.3 from 51.5 in December. |
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