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China: Services activity rises at softest pace in five months
China’s service sector continued to expand in the penultimate month of the year, according to latest PMI® data. Growth in services activity was driven by a sustained increase in new business, though in each case the rate of expansion slowed since October. This was despite a renewed rise in new export business. Meanwhile, staffing levels continued to fall, which contributed to higher amounts of backlogged work. Optimism among service providers regarding the 12-month outlook also softened. On prices, average input costs rose at a faster pace than seen on average over the past year, which led to a renewed increase in ... (full story)
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