“The Caixin Services PMI for December in China was 48.0.
This indicates that the pace of contraction in the services sector in the country decreased in the reported month.”
The results of the December survey pointed to weaker declines in company activity and new jobs.”
“According to Caixin Insight Group Senior Economist Wang Zhe, “both supply and demand decreased in the sector as a result of Covid outbreaks, with the gauges for business activity and total new business being below 50 for the fourth consecutive month in December.”
“Nevertheless, other service providers claimed that since November, business has increased.
The pandemic had an impact on international demand as well because the reading for new export orders decreased once more.”
