China January services sector growth slowest in 6 months

Beijing

CHINA'S services sector grew at the slowest pace in six months in January as growth in new business weakened, a private survey showed, raising expectations that policymakers may unveil more stimulus steps to avert a sharper slowdown in the world's second-largest economy.

The HSBC/Markit Services Purchasing Managers' Index (PMI) slowed to 51.8 in January - the weakest since July 2014 - from December's 53.4, but remained above the 50-point level that separates growth from contraction in activity on a monthly basis.