December 31, 2019 / 1:27 AM / 2 months ago

China's service sector activity grows at slower pace in December: official PMI

FILE PHOTO: A waiter cleans the floor of a restaurant after closing hours in Beijing, China October 28, 2019. REUTERS/Thomas Peter

BEIJING (Reuters) - Growth in China’s services sector activity cooled in December, official data showed on Tuesday.

The official services PMI slipped to 53.5, from an eight-month high of 54.4 in November, the National Bureau of Statistics said.

The 50-point mark separates growth from contraction on a monthly basis.

Beijing has been counting on a strong services sector to help offset prolonged weakness in manufacturing, which has been weighed down by weak domestic and global demand and the protracted U.S.-China trade war. Economic growth has slowed to near 30-year lows.

The official December composite PMI, which includes both manufacturing and sevices activity, fell to 53.4 from November’s 53.7.

Reporting by Beijing Monitoring Desk; Editing by Kim Coghill

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