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March 5, 2019, 1:15 a.m. EST

China's Caixin Services PMI falls to a 4-month low

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By MarketWatch

BEIJING--China's service sector grew at the slowest pace in February, according to a private indicator on Tuesday, consistent with an official gauge that pointed to growing headwinds faced by service providers.

The Caixin China services purchasing managers' index slipped to 51.1 last month in from January's 53.6, Caixin Media Co. and research firm Markit said in a release.

A reading above 50 indicates an expansion in activity from the previous month while a level below that points to a contraction.

Subdued new orders weighed on business activities, the release said. In particular, new export order growth eased to a five-month low at services firms, it said.

A subindex measuring employment, which having eased since the start of the year, rose only marginally last month, Caixin said.

China's official nonmanufacturing purchasing managers index, a measure of activity outside factory gates, fell to 54.3 in February from 54.7 in January, the National Bureau of Statistics said Thursday.

The subindex measuring business activities for the service sector of the official PMI, which covers both construction and service sectors, dropped to 53.5 from 53.6 in January.

Write to Liyan Qi at liyan.qi@wsj.com

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