Chinese Service Sector Expands At Solid Pace

(RTTNews) - Chinese service sector activity continued to grow at a marked pace in December, while overall private sector growth slowed, new survey data showed on Wednesday.

The Markit-HSBC services purchasing managers' index was unchanged at a seasonally adjusted 53.1. A reading above 50 indicates expansion, while one below suggests contraction.
Meanwhile, the composite PMI, which is a weighted average of the manufacturing and services PMIs, came in at 55.2 in December, down from 55.8 in the prior month.