China Feb service sector growth slows to 4-month low as competition gets fierce: Caixin PMI

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The February services PMI dipped to 52.
6 in February on a seasonally adjusted basis, from 53.
1 in January, the Markit/Caixin services purchasing managers` index (PMI) showed.
Any signs of flat-lining in services sector growth, which is more dependent on domestic demand, could indicate a slowdown in momentum for the economy overall.
Survey respondents said increased competition had restricted their pricing power, even as their input prices continued to rise, albeit at a slower pace.
Caixin`s composite PMI covering both the manufacturing and services sectors rose to 52.
6 in February from the previous month`s 52.
2 as growth in the manufacturing sector accelerated.
The findings echoed a similar softening in growth in China`s official services activity survey released on Wednesday, and contrasted with an unexpected pick-up in growth in its manufacturing sector as export orders rebounded.

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