China’s Caixin service PMI rises to 17-month high

The Caixin China Services PMI rose to 53.4 in December of 2016 from 53.1 in November while market expected 53.3. It was the fastest growth since July 2015, as new orders rose the most in 17 months and business expectations went up to a four-month high while employment growth eased modestly. At the same time, backlogged work was broadly unchanged while input costs rose at the fastest rate in nearly two years. Services companies raised slightly their prices charged amid reports that competitive market pressures had restricted their ability to fully pass on higher input costs. Services PMI in China averaged 52.32 Index Points from 2012 until 2016, reaching an all time high of 54.70 Index Points in May of 2012 and a record low of 50 Index Points in July of 2014. Services PMI in China is reported by Markit Economics.  – Trading Markets

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