China’s Caixin Services PMI Recorded a Decline in January

China’s Caixin services purchasing managers’ index fell to 51.4 in January from 53.1 in December as stricter measures to curb the COVID outbreak hurt confidence among both businesses and consumers.

The service sector has been hit hard by strict measures to contain the spread of COVID-19, especially in Xi’an and Beijing. These control measures include the introduction of strict regulations on the production, transportation and sale of goods.

If the measures eventually come to an end, it will probably come down to loose monetary policy again to get the economy moving again.

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