China's Caixin services PMI: Solid upturn in business activity
|China's Caixin services PMI for December came at 53.9 vs 51.8 exp and 51.9 last, which represents a solid upturn in Chinese business activity at the end of 2017.
Meanwhile, the Composite Output Index picked up to 53.00 from 51.6 in November "to indicate the fastest rate of activity growth for a year", the report noted.
Quotes from Dr. Zhengsheng Zhong, Director of Macroeconomic Analysis at CEBM Group
The Caixin China General Services Business Activity Index rose 2.0 points from the previous month to 53.9 in December, the highest level since August 2014.
The expansion in new business picked up for the second consecutive month.
Prices charged increased at a slightly slower rate in December, while input prices rose at the joint-fastest pace since February 2013.
The Caixin China Composite Output Index rose 1.4 points from November to 53.0 in December, with both manufacturing and service sectors seeing stronger rates of growth.
The December readings of the Caixin PMI surveys also point to improving economic sentiment.
Expansions in total new orders and new export business supported optimism among manufacturers and service providers towards the business outlook for next year.
Although China’s economic growth remains under downward pressure, it is still resilient.
However, special attention should be paid to whether future policies will become tighter than expected.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.