China Services Activity Expands at Slowest Pace in Nine Months, Caixin PMI Shows

China’s services sector expanded at the slowest pace in nine months in January as growth in total new business and new export business softened, a Caixin-sponsored survey showed Wednesday.

The Caixin China General Services Business Activity Index, which gives an independent snapshot of operating conditions in the services sector, fell to 52 in January from 56.3 the previous month. A number above 50 indicates an expansion in activity, while a figure below that points to a contraction.