China’s services industries expanded at a slower pace in February, an official survey showed. The non-manufacturing Purchasing Managers’ Index fell to 54.5 in February from 56.2 in January, the Beijing-based National Bureau of Statistics and China Federation of Logistics and Purchasing said in a statement today. A reading above 50 indicates expansion. Two manufacturing indexes released March 1 showed a slower- than-estimated pace of expansion, indicating a recovery in the world’s second-biggest economy may be losing steam. The federation’s official PMI had a reading of 50.1, the weakest in five months, while a ... (full story)