The world's second largest economy showed positive signs as resurgent sales in the real estate sector boosted growth during March. However, China recorded drop in exports and freight segments.
China's benchmark Purchasing Managers' Index (PMI) fell to lowest in the three-and-a-half years. PMI was at 49.4 for January as against average forecast of 49.6. The PMI was 49.7 in December 2015. The disappointed China factory output data pulled oil prices lower.
The U.S. services sector expanded in November at a slower rate than the previous month as growth in new business slowed, an industry report showed on Monday.
An index of growth in China's vast manufacturing sector fell from a 27-month high to 51.1 in August, a government study showed on Monday, slightly less than forecast and adding to signs of growing softness in the Chinese economy.
Despite positive Purchasing Managers Index data in both the manufacturing and services sectors, Markit's recent industry report also reflected a slowdown of hiring in the private equity sector.
A private survey revealed that China's PMI for the services sector showed signs of growth.
China's PMI showed growth in July, offering hope that the country's economy is recovering.