China non-manufacturing (services) PMI for December: 54.6 (vs. 56.0 prior)
- four-month low, but still well into expansion territory
Ting Lu, an economist at Bank of America-Merrill Lynch in Hong Kong, said
- another factor was the fading effect of China’s “mini” economic stimulus rolled out in mid-2013
- “There was pent-up demand in the third quarter and we don’t expect it to be sustained in the fourth quarter,”
- expecs quarterly growth to ease to 2% percent in the December quarter, from 2.2 percent in the previous
