MNI BRIEF: China Caixin Services PMI Expansion Slows In Jan
MNI (BEIJING) - China’s Caixin Services PMI reached 51.0 in January, down 1.2 points from December but remained above the expansionary level of 50 for the 25th consecutive month, Caixin reported on Wednesday.
Supply and demand growth slowed in January to the lowest level in four months, said Wang Zhe, Senior Economist at Caixin Insight Group, in a statement on the firm’s website, but noted external demand rebounded from a decline in December.
Business expectations rose more than two points from the previous month but remained below the historical average, Wang continued.
China will need to provide around an additional CNY3 trillion in fiscal funds in 2025 alongside greater economic reforms to maintain 5% GDP growth, a senior policy advisor told MNI. (See MNI INTERVIEW: China Needs Further CNY3 Trn To Keep 5% GDP)