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China’s manufacturing activity expanded in January at the slowest pace since last May while services activity grew at the fastest in four months to reflect stable development in overall economic activity wholesale air max free shipping , the National Bureau of Statistics said yesterday.


The manufacturing Purchasing Managers’ Index, which measures vitality in the manufacturing sector, dipped last month to 51.3 from December’s 51.6.


The reading was below market expectations for 51.6 but remained above the 51 mark for the 16th consecutive month.


A reading above 50 indicates expansion, and below 50 contraction. The manufacturing PMI has been in positive territory for 18 straight months in a row.


The non-manufacturing PMI rose for the third consecutive month to reach 55.3 in January, up from December’s 55.


A general PMI, published for the first time to cover both manufacturing and services industries wholesale air max shoes , was flat at 54.6, as data showed the December reading would have read the same.


The new index was introduced to better track the economy as the border between the manufacturing and services sectors has become more ambiguous.


While old indexes will remain, the new gauge will “provide a new perspective to monitor the macro-economy, and enrich and improve the current PMI system,” the bureau said, adding that it has undertaken more than two years of research and testing.


The mechanism in compiling the index is in line with global practices wholesale nike shoes , it said. Its use will make economic activity in China more comparable on a global level.


“As of December, countries and regions including the eurozone, the United States, Britain, Germany and Japan have compiled and published such an index,” the bureau said.


Zhao Qinghe wholesale air max , a senior statistician of the bureau, said business activity of companies in China continues to maintain stable growth at a relatively fast rate, with the services sector outpacing manufacturing.


Growth in demand moderated as some industries approach the low season, but the consumer goods sector accelerated ahead of the Spring Festival, Zhao said.


January’s sub-index for production fell to 53.5 from December’s 54, and new orders fell to 52.6 from 53.4. Sub-indexes for raw material inventory mens nike air max 90 wholesale , employment and suppliers’ delivery time were still lower than 50.


Businesses saw easing pressure from rising operating costs in January, and export growth softened as overseas demand fell after the Christmas and New Year holidays, Zhao added.


PMI for the consumer goods sector was 52.7, 0.3 points higher than December and 1.8 points higher than January 2017.


China’s economy is shifting to a consumption-led growth model to wean itself off reliance on exports and investment. Consumption contributed to 58.8 percent of economic growth last year.


Meanwhile, expansion in services industries was led by retail, air transport womens nike air max 90 wholesale , broadcasting, Internet and financial services.


Economists at Bank of Communications, in a note, attributed the lower manufacturing PMI to seasonal reasons but warned about possible trade volatility as new export orders fell below 50 for the first time in 16 months.


The note said manufacturing activity and trade may remain cool this month due to the Spring Festival, whereas activity may rebound after March to show the continuous momentum in the domestic and external demand.


ATHENS, June 23 (Xinhua) -- With no breakthrough during Monday's Eurogroup summit in Brussels cheap nike air max 90 wholesale , talks on the long-awaited deal for the Greek debt resolution will be continued with a view to strike a compromise by the weekend, according to Greek government and its international lenders.


The updated proposal the Greek side submitted on Monday foresees fiscal adjustment measures and fiscal reforms of about 8 billion euros (9.1 billion U.S. dollars) in total for 2015 and 2016, in exchange for the disbursement of more aid to Athens to avert default and a possible exit from the single currency in coming weeks, Greek media reported.


In order to balance the tough measures, the Greek side focuses on European financing of growth boosting measures and the request for a debt relief to ensure the sustainability of the Greek debt load, Greek government sources said on Monday night as the meeting of the leaders was wrapping up.


"The proposal of the Greek government is the result of tough negotiations to achieve a deal that will give a viable solution for the Greek economy nike air max 90 cheap wholesale ," a Greek official said to the press anonymously.


The official said that Athens pledges measures of 1.5 percent of GDP for 2015 and 2.5 percent of GDP for next year in order to reach the fiscal targets requested by lenders.


The revised proposal is likely to include indirect salary and pension cuts, increase on taxes, defense spending cuts and the abolition of early retirements as of 2016, according to local media.


The proposal came after five months of negotiations between Athens and lenders, and it's a long way from the ruling party's pre-election pledges.


Analysts noted in reaction to the leaked information that Greek Prime Minister Alexis Tsipras will have to try hard to sell it to parliament members of his party and voters.


In statements after the summit, his interlocutors talked about a "positive step" made by Greece on Monday nike air max 90 wholesale china , but stressed that much work remains to be done until the next emergency meeting of Eurogroup on Wednesday to pave the ground for the EU summit on Thursday.


European Commission President Jean-Claude Juncker, German Chancellor Angela Merkel and French President Francois Hollande said that no new extension to the current bailout, a third program or debt relief was discussed on Monday.


Such topics will be decided at a second stage, they said, dampening Athens' hopes for an immediate clear commitment on debt relief by the other side.