China's services sector expanded at slowest pace in three months in January - private survey

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China’s services sector expanded at the slowest pace in three months in January, a traditionally busy season, as new orders dipped and companies cut prices, a private sector survey showed on Wednesday.

The Caixin/Markit services purchasing managers’ index (PMI) slowed to 51.8 last month from 52.5 in December, but was still higher than an 8-month low hit in October.

Notably, the survey was conducted before the Lunar New Year holiday, when the spread of the coronavirus became more insidious. Many businesses remain shut after the government extended the holiday period . . .

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