China’s service industries grew at the fastest pace since August as retail and construction helped drive a recovery in the economy, Bloomberg reported. The non-manufacturing Purchasing Managers’ Index rose from 56.1 in December to 56.2 in January, the National Bureau of Statistics and China Federation of Logistics & Purchasing in Beijing said Sunday. A reading above 50 indicates growth. “A mild growth rebound appears on track. With downside risks to growth significantly reduced and inflation expectations rising, policies may shift away from an easing bias to a more neutral position,” said Ding Shuang, senior China economist with Citigroup (C.NYSE, C-G.NYSE) in Hong Kong.
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