BEIJING (Reuters) – China’s January non-manufacturing activity grew but at a slower pace than in December, an official survey showed on Monday, suggesting policymakers need to introduce even more stimulus measures to prop up depressed domestic demand.
The official non-manufacturing purchasing managers’ index (PMI), which includes services and construction, fell to 50.2 from 52.2 in December, according to the National Bureau of Statistics (NBS). The 50-point mark separates expansion from contraction in activity on a monthly basis.
The NBS composite PMI, which includes manufacturing and services, came in at 50.1 in January, versus 52.2 in December.
(This story has been corrected to clarify that the non-manufacturing activity grew, not fell, in the headline and paragraph 1)
(Reporting by Liz Lee and Yukun Zhang; Writing by Joe Cash; Editing by Sonali Paul)
