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Caixin China General Services PMI: Pressure on service sector activity eases in December
Latest PMI data signalled a further fall in business activity across China's service sector at the end of 2022, as ongoing efforts to curb the spread of COVID-19 continued to disrupt operations and dampen demand. That said, both activity and new work fell at softer rates than in November. The level of outstanding business meanwhile expanded at the quickest pace since May, and firms registered a softer fall in employment. Inflationary pressures moderated further, with both input costs and prices charged rising at mild rates. When assessing the 12-month outlook for business activity, firms expressed stronger optimism ... (full story)