A China services index fell to a four-month low in December, highlighting limits on the strength of economic growth after declines in manufacturing gauges.
The non-manufacturing Purchasing Managers’ Index slid to 54.6 in December from 56 in November, the Beijing-based National Bureau of Statistics and China Federation of Logistics and Purchasing said Friday in Beijing. A number more than 50 indicates an expansion.
A jump in money-market rates, surging property prices in some cities and swelling local-government debt threaten to undermine the government’s efforts.
Friday’s data followed declines reported this week in two Chinese manufacturing indexes.