The first official data for January showed economic activity expanded at a much slower pace compared to December, with the services sector markedly weaker. The manufacturing purchasing managers’ index fell to 51.3, while the non-manufacturing gauge dropped to 52.4 from 55.7 in December, according to data released Sunday by the National Bureau of Statistics.
Activity usually slows ahead of the Lunar New Year holiday which begins next week, but curbs on travel this year to try and stop the spread of the coronavirus mean many people won’t be able to return to their hometowns.
Chinese growth is the main engine of global growth. Any delay in its recovery will count double for occidental economies…