Gauge shows private business activity, recruitment slowed in January

China’s Sales Managers’ Index, an independent gauge following all private sectors of the economy compiled by World Economics, fell to 51 in January from 51.7 in December, a record low that nonetheless suggested ongoing, albeit slower growth, Reuters reported. The index has averaged 51.4 since the second half of 2015, a steady but much more modest rate than a year before, hovering above the 50-point mark delineating expansion from contraction. The firm’s staffing index fell to 50.3 in January from 50.8 in December, hitting the lowest level since the survey began as businesses have become more hesitant to recruit.