China Non-manufacturing PMI Falls to 11-Month Low
The China Non-manufacturing PMI for January fell to 52.9 from 56.5 in the prior month. This was the lowest reading for the gauge in eleven months, but still suggests expansion in the service sector given a level above 50. The Manufacturing PMI is typically regarded as a more important indicator of the health of the Chinese economy, thus market reaction to this release was minimal.
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