China Services PMI has decreased to its lowest level since late 2022.

China's official NBS Non-Manufacturing PMI decreased to 49.4 in January 2024 from 50.2 in the previous month, below market forecasts of 50.3, and recording the lowest level since December 2022. The drop was attributed to subdued demand after the holidays, restrained consumer expenditure, and continued challenges in the real estate industry.