財新PMI顯示2月中國服務業增勢放緩

An independent gauge of activity in China’s services sector indicates growth slowed further last month, contrasting with a pick-up in bustle at the country’s manufacturers.

對中國服務業經濟活動的一個獨立指標顯示，上個月中國服務業增長進一步放緩，這與中國製造商重返繁忙的景象形成了對照。

Business activity at service providers grew at the slowest pace in four months in February, according to the Caixin-Markit services purchasing managers’ index. The latest reading of 52.6 reflects a fall of 1.8 points from December’s level, though that is still safely above the 50-point line delineating growth from contraction.

根據財新(Caixin)/Markit服務業採購經理人指數(PMI)，2月份中國服務業供應商的業務活動增幅爲四個月內最低。52.6的最新讀數比去年12月份的水平低了0.8個百分點，不過該讀數仍大大高於50的榮枯線。

Businesses surveyed for the gauge indicated the rate of growth in new orders held steady from January, but noted increased competition had prevented them from raising prices charged to clients in February. That contrasted with input prices, which rose again last month – albeit at a slower pace.

爲編制該指數而接受調查的企業表示，新訂單增速從1月份起保持穩定。不過它們指出，競爭加劇令它們在2月份無法提高對客戶的開價。相比之下，輸入價格卻再次上漲——儘管上漲速度較慢。

The Caixin gauge tracks smaller, private businesses compared to its official counterpart, which focuses primarily on large, state-owned enterprises. Official PMI readings for January showed activity ratchet up in manufacturing while both services and construction sector growth softened visibly.

與官方PMI指數相比，財新的指數跟蹤研究的是規模較小的民營企業，而官方指數則主要關注大型國有企業。2月份官方PMI指數顯示製造業活動出現擴張，而服務業和建築業增長都明顯放緩。

The latest number from the independent services gauge, together with a reading of 51.7 from manufacturing, shook out to a composite CPI reading of 52.6 for February, up 0.4 points from January and indicating slight improvement.

從這一獨立服務業指標的最新讀數，再把51.7的製造業讀數考慮在內，得出2月份的綜合PMI讀數爲52.6，比1月份高了0.4，顯示出經濟活動略有改善。