China's services sector activity unexpectedly slowed in January, despite the Lunar New Year holiday season boosting spending, according to a private survey released on Wednesday.
The Caixin China services purchasing managers' index (PMI) fell to 51 in January from 52.2 in December, according to a report from Caixin and S&P Global. The median forecast of economists surveyed by Bloomberg was 52.4. A reading above 50 indicates expansion.