A PRIVATE gauge of China’s services activity expanded in January, likely helped by a boost from public holidays. The Caixin/S&P Global services purchasing managers’ index (PMI) edged down to 52.7 from 52.9 in December, Caixin and S&P Global said in a statement yesterday. But the services PMI remained above the 50-mark that separates expansion from contraction for the 13th consecutive month. “The improved market resulted in growth in business output and sales, though at a slower pace than in the previous month,” Wang Zhe, senior economist at Caixin Insight Group, said in a statement accompanying the release. Official data last week showed manufacturing activity shrinking for the fourth straight month while services activity expanded for the first time in three months. The new year public holiday as well as the approaching Lunar New Year likely lifted tourism and retail activities. Consumers have been more willing to spend on services such as traveling rather than goods since China reopened from COVID, a trend that some economists see continuing this year. The rebound in traveling was also moderate — for the last major public holiday, domestic tourism only recovered to pre-pandemic level during the Golden Week in October, undershooting official projections. In January, new orders expanded at a slower pace with the index falling to 51.5 from 53.7 in December. (SD-Agencies) | 