Mumbai, Jan. 5 -- China's service sector continued to grow in the final month of the year, according to the latest PMI data. That said, both new orders and business activity expanded at the slowest rates since June. The slowdown in sales growth occurred amid a renewed fall in new export business.
Companies cut staffing levels again, which contributed to a slight accumulation of backlogged work. Meanwhile, intense market competition contributed to a renewed fall in output prices, even though input costs continued to increase.
Nevertheless, business confidence regarding the year-ahead improved to a nine-month high.
The headline RatingDog China General Services Business Activity Index fell slightly from 52.1 in November to 52.0 in December....