Mar 3, 2021 02:52 GMTFXStreet News
China’s Caixin services
PMI for February came in at 51.5 vs. 52.0 last, which showed that the business activity grew at the slowest pace in ten months.
Key findings
Softer increase in total new work amid renewed drop in export sales.
Confidence regarding the 12-month business outlook remains robust.
Commenting on the China General Services PMI ™ data, Dr. Wang Zhe, Senior Economist at Caixin Insight Group said: “The Caixin China General Services Business Activity Index came in at 51.5 in February, declining for the third month in a row and hitting the lowest point since April 2020, as the momentum of postepidemic services recovery further weakened.”
CX Daily: China’s Carbon Trading Market Hobbled by Unanswered Questions
Carbon /
China for the first time
asked domestic companies to shoulder the responsibility for controlling the country’s greenhouse gas emissions by buying and selling emission quotas on a unified national carbon market.
The sheer scale of the problem could create the world’s largest carbon trading market, but big structural factors stand in the way.
Systemic issues in China’s power generation industry are likely to prevent companies from effectively participating in the national carbon market: the pressure that the added cost of carbon will put on the far-from-market-driven industry and the lack of an absolute cap on the amount of carbon that can be emitted under the program.
Activity in India s services sector rose for the fourth straight month in January as the Covid-19 vaccination roll-out drove business optimism, a private survey showed yesterday. The IHS India Services Business Activity Index rose to 52.8 in January from 52.3 in December, reflecting that the pace of growth was moderate. The 50-point mark separates expansion from contraction.
India s service sector were confident of a rise in output in the coming 12 months on the back of beliefs that the roll-out of Covid-19 vaccines would underpin demand growth and improvements in the wider economy. The overall degree of optimism was at an 11-month high. The Composite PMI Output Index, which accounts for both manufacturing and services edged up to 55.8 in January, from 54.9 in December.
Activity in India’s services sector expanded for the fourth straight month in January as the Covid-19 vaccination roll-out drove business optimism, a private survey showed on Wednesday. The IHS India Services Business Activity Index rose to 52.8 in January from 52.3 in December, suggesting the pace of growth was moderate. The 50-point mark separates expansion from contraction. But it should be noted that the PMI is a month-over-month indicator, showing improvement over the previous month, and not over the previous year. The Indian services sector enjoyed good levels of activity in January, with new business volumes rising for the fourth successive month and growth rates for both measures picking up from December, said Pollyanna De Lima, Economics Associate Director at IHS Markit. “The service sector looks set to sustain growth and confidence towards hiring may improve as COVID-19 concerns diminish,” De Lima added.