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4 Mar 2015
HSBC China services improves in February
FXStreet (Bali) - HSBC China Services PMI data pointed to a further increase in Chinese business activity in February, coming at 51.8, up from January’s recent low of 51.0, HSBC reports.
Commenting on the China Services and Composite PMI™ data, Annabel Fiddes, Economist at Markit said: “The latest PMI data signalled that China’s service sector remained in expansionary territory in February, though the rate of growth remained modest. However, the solid rise in new orders suggests that activity growth may pick up in the months ahead, as firms continued to add to their payroll numbers amid a positive business outlook. Meanwhile, the renewed improvement in manufacturing operating conditions suggests that the Chinese economy is on a steadier growth footing in February.”
Commenting on the China Services and Composite PMI™ data, Annabel Fiddes, Economist at Markit said: “The latest PMI data signalled that China’s service sector remained in expansionary territory in February, though the rate of growth remained modest. However, the solid rise in new orders suggests that activity growth may pick up in the months ahead, as firms continued to add to their payroll numbers amid a positive business outlook. Meanwhile, the renewed improvement in manufacturing operating conditions suggests that the Chinese economy is on a steadier growth footing in February.”