FXStreet (Delhi) – Sanjay Mathur, Head of Economics Research at RBS, suggests that the key message from both the January official and Caixin PMIs is that Chinese economic activity continues to slow. Key Quotes “New export orders were the weakest link in both sets of PMIs, underscoring the poor global trade conditions. The January official non-manufacturing PMI was also released. Though slightly lower than December, it held up above the neutral level. While this index suggests that the services sector has been resilient, it does not appear strong enough to overcome the weakness in industry. Fiscal spending will, therefore, need to be stepped up to ensure stability in overall growth.” For more information, read our latest forex news.