(Yicai Global) Jan. 6 -- Activity in China’s services sector kept expanding for the eighth month in December, though the Caixin purchasing managers’ index for services stood at 56.3, down from November’s 57.8, according to a widely watched private survey financial news outlet Caixin released today.

A figure above 50 signals expansion, while one below 50 indicates contraction.

China’s service order index in the month rose at a slower pace than the previous two. The recent resurgence of the pandemic in China’s major export markets that has stunted overseas business growth was a factor Caixin cited to explain the slowdown.

The figure released today is consistent with official figures for December published earlier by the National Bureau of Statistics. The Service Industry Business Activity Index fell 0.9 to 54.8, while the composite PMI dropped by 0.6 to 55.1.

The Caixin purchasing managers’ index for manufacturing registered 53 in December, lower than November’s 54.9, which was its highest in a decade.

Editor: Ben Armour, Xiao Yi