China January official services PMI edges up to 55.3

By Kitco News / January 30, 2018 / www.kitco.com / Article Link

BEIJING, Jan 31 (Reuters) - Growth in China's services industry picked up in January, an official survey showed on Wednesday, suggesting the key sector is continuing to expand robustly at the start of 2018.

The official non-manufacturing Purchasing Managers' Index (PMI) rose to 55.3 from 55 in December.

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 Stella Qiu and Beijing Monitoring Desk; 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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