China - Caixin Markit Services PMI for December 53.1 (expected was 51.7)

The Caixin survey has a greater representation of smaller firms than does the official PMI survey (from China's NBS).

Caixin Markit Services PMI for December comes in at 53.1 for a beat and ahead of November

• expected 51.7, prior 52.1
• a solid result given the services sector is slower to recover from the pandemic than manufacturing, and is more vulnerable to sporadic COVID-19 outbreaks and anti-virus measures

Composite PMI 53.0

• prior 51.2

Some of the more notable points:

• Firms' input prices rose for the 18th month in a row, but at a slower pace
• the sub-index for employment rose at the fastest pace since May