China's services growth in December hits 17-month low

Beijing

ACTIVITY in China's services sector expanded at its slowest rate in 17 months in December, a private survey showed on Wednesday, in a further indication that the world's second largest economy may be losing steam.

Policymakers and economists have hoped Beijing's push to restructure the economy with a greater emphasis on services and consumption would more than offset the economic drag from persistent factory weakness, but the survey's findings did not bolster that view.