China December official services PMI edges up to 55

By Kitco News / December 30, 2017 / www.kitco.com / Article Link

BEIJING, Dec 31 (Reuters) - Growth in China's services industry picked up in December, an official survey showed on Sunday, as the sector continued to show solid expansion.

The official non-manufacturing Purchasing Managers' Index (PMI) rose to 55 from 54.8 in November.

China's leaders are counting on growth in services and consumption to rebalance their economic growth model from its heavy reliance on investment and exports.

The services sector accounts for over half of China's economy, with rising wages giving Chinese consumers more spending power.


(Reporting by Ben Blanchard; Editing by Kim Coghill)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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