Service sector growth hits lowest level since 2008
By Agencies | China Daily | Updated: 2014-02-04 07:44
Latest economic indicator adds to global market jitters
Service sector growth fell to a five-year low in January, an official survey showed, the second indicator in as many days that the world's second-largest economy is facing headwinds. Global markets fell on Monday, in part due to concerns over the economy.
The National Bureau of Statistics said on Monday the official non-manufacturing Purchasing Managers' Index (PMI) fell to 53.4 in January from December's 54.6. A reading above 50 indicates growth, a reading below 50 indicates contraction
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