China figures point to economy slowing down

CHINA'S official services sector Purchasing Managers Index (PMI) fell to a five-month low in January, confirming the world's second-largest economy is slowing as the government continues to implement its reform plans.

China's non-manufacturing purchasing managers index PMI fell 1.2 points to 53.4 in January, from 54.6 in December, figures published by the National Bureau of Statistics and the China Federation of Logistics and Purchasing showed yesterday.

The business expectations sub-index fell to 58.1 from December's 58.7, the lowest reading since February 2009. The new orders sub-index nudged down to 50.9 from December's 51.0.