China’s non-manufacturing PMI slips to 53.5 in January

Beijing, Feb 1 (IANS) China’s service sector activity slackened off in January, a monthly survey showed on Monday.

The purchasing managers’ index (PMI) for the non-manufacturing sector came in at 53.5 in January, down from 54.4 in December, Xinhua cited a joint report by the National Bureau of Statistics and the China Federation of Logistics and Purchasing as saying.
A reading above 50 indicates expansion, while a reading below 50 represents contraction.