China's Jan services activity expands at slowest rate in five months - Caixin PMI

Activity in China's services sector in January expanded at the slowest pace in five months, as a surge in local COVID-19 cases and containment measures hit new business and consumer sentiment while employment fell, a private survey showed on Monday.

The Caixin/Markit services Purchasing Managers' Index (PMI) dropped to 51.4 in January - the lowest since August - from 53.1 in December. The 50-point mark separates growth from contraction on a monthly basis.