-
Advertorial
-
FOCUS
-
Guide
-
Lifestyle
-
Tech and Vogue
-
TechandScience
-
CHTF Special
-
Nanshan
-
Futian Today
-
Hit Bravo
-
Special Report
-
Junior Journalist Program
-
World Economy
-
Opinion
-
Diversions
-
Hotels
-
Movies
-
People
-
Person of the week
-
Weekend
-
Photo Highlights
-
Currency Focus
-
Kaleidoscope
-
Tech and Science
-
News Picks
-
Yes Teens
-
Budding Writers
-
Fun
-
Campus
-
Glamour
-
News
-
Digital Paper
-
Food drink
-
Majors_Forum
-
Speak Shenzhen
-
Shopping
-
Business_Markets
-
Restaurants
-
Travel
-
Investment
-
Hotels
-
Yearend Review
-
World
-
Sports
-
Entertainment
-
QINGDAO TODAY
-
In depth
-
Leisure Highlights
-
Markets
-
Business
-
Culture
-
China
-
Shenzhen
-
Important news
在线翻译:
szdaily -> Business -> 
Services sector growth eases to four-month low
    2018-04-05  08:53    Shenzhen Daily

THE country’s services sector growth eased to a four-month low in March as new business and employment grew at a slower rate, a private business survey showed, pointing to cooling demand in a sector the government is counting on to maintain economic growth.

The Caixin/Markit services purchasing managers’ index (PMI) fell to 52.3 in March, from February’s 54.2, the weakest since November. However, it still remained above the 50-mark that separates growth from contraction.

The lackluster survey results were in line with a separate survey by Caixin on Monday that showed activity in the manufacturing sector expanded at the slowest pace in four months.

The Caixin services PMI, which tends to focus on smaller firms, suggested growth in new businesses eased to a four-month low in March as some firms cited greater market competition and a drop in customer numbers, while new hires increased at the slowest pace in 19 months.

A report by Chinese jobs website Zhaopin showed competition among white-collar workers for jobs intensified in the spring.

The increase in jobseekers versus jobs resulted in a drop in average monthly salaries for the first time since the second quarter of 2017, to 7,629 yuan (US$1,213). That was a 2.1-percent decline from the previous quarter.

Hurt by weakening demand, sentiment towards the 12-month outlook for business activity eased to a six-month low in March, with concerns over subdued growth in tourism weighing on overall confidence.

However, input price inflation eased for a second straight month to a four-month low, while firms raised their prices charged at a slightly quicker pace than the previous month, suggesting higher profitability.

Caixin’s composite PMI covering both the manufacturing and services sectors showed a similar pattern of softer growth, falling also to a four-month low of 51.8 in March from the previous month’s 53.3.

“Overall, the growth momentum of the Chinese economy weakened in March,” said Zhong Zhengsheng, director of macroeconomic analysis at CEBM Group.(SD-Agencies)

深圳报业集团版权所有, 未经授权禁止复制; Copyright 2010, All Rights Reserved.
Shenzhen Daily E-mail:szdaily@szszd.com.cn