BEIJING—China’s services sector expanded at a slower pace in December following a strong rebound in the previous month, with business confidence falling to the second-lowest on record despite a pick-up in new orders, a private survey showed on Jan. 6.
The more downbeat reading suggests services companies remain cautious about the outlook for China’s economy despite a flurry of stimulus measures, signs of improvement in the manufacturing sector and a long-awaited U.S.-China trade deal.
