The expansion of China’s services sector fell to a five-month low in January, and sentiment toward the year ahead sank to the lowest level in 16 months, a private survey stated on Feb. 7, as the pandemic and strict “zero-COVID” measures hit new business and employment. The Caixin/Markit services Purchasing Managers’ Index (PMI) dropped to 51.4 in January from 53.1 in December, slightly above the 50-mark that separates expansion from contraction, with the lowest level since August last year. As China’s economy continued to slow at the start in 2022, the survey result followed a decrease of its factory activity recorded in Caixin manufacturing PMI a week earlier, which fell to 49.1 in January from 50.9 in December. “It has become more evident that China’s economy is straining under the triple pressures of contracting demand, supply shocks and weakening expectations,” said Wang Zhe, a senior economist at Caixin Insight Group. …