6 Jan 2015
HSBC China Services PMI: Quickest expansion for three months
FXStreet (Bali) - The HSBC China Services PMI climbed to 53.4 in December, up from 53.0 in November, which represents the quickest expansion of service sector activity for three months.
Commenting on the China Services and Composite PMI™ data, Hongbin Qu, Chief Economist, China & Co-Head of Asian Economic Research at HSBC said:The solid performance was supported by another strong expansion in new business. The employment index improved modestly and price pressures remain muted. The services sector continued to hold up well amidst the manufacturing downturn, providing some counter-weight to the downward pressures on the economy. We continue to believe that there is insufficient demand in the overall economy and more easing measures are warranted in the coming months.”
Commenting on the China Services and Composite PMI™ data, Hongbin Qu, Chief Economist, China & Co-Head of Asian Economic Research at HSBC said:The solid performance was supported by another strong expansion in new business. The employment index improved modestly and price pressures remain muted. The services sector continued to hold up well amidst the manufacturing downturn, providing some counter-weight to the downward pressures on the economy. We continue to believe that there is insufficient demand in the overall economy and more easing measures are warranted in the coming months.”