The Chinese services sector growth trend continue and remained stable last month, according to recent government and private data due to strong economic activity in the fourth quarter. The Chinese non-productive PMI index rose to 53.9 points in November from 53.8 points a month earlier, staying again at the 50 points separating expansion from contraction. Similar sector PMI index, published a few hours earlier, showed a growth of up to 53 points in November from 52.9 points a month earlier.
The data came just weeks after Chinese central bank cut interest rates surprisingly for the first time in more than two years. The institution denied the move aims to support growth, although several key indicators of activity reported delay of the second largest economy in the world.
The analysts expect the last contraction of the interest by the Chinese central bank to help sustain demand in the short term. However, pressures on the economy is still in place and give rise to additional measures in relation to monetary and fiscal easing in the coming months.
According to the report the growth of new services accelerated to a 30-month high in November, however, largely been offset by more moderate expansion of employment and worsening price pressure.