China PMIs points to a gradual loss of momentum - Westpac

China Services PMI in January strengthened slightly to 55.3, but was offset by a 0.3 point decline in Manufacturing PMI to 51.3. While both PMIs are still in positive territory and in-line with long-run averages, Westpac made note of further slippage in employment, with the manufacturing employment series 1.4 points below its average. 

West-pac quotes(bolding FXStreet Team emphasis):

"Employment conditions in the services sector have been little changed in recent months; but, being 1.9ppts below average, job growth here is arguably weaker than in the manufacturing sector. As we have often highlighted, firms holding back on hiring and wages are key reasons why growth in the consumer sector is unlikely to accelerate further."  

"...Overall then, momentum across both the manufacturing and services sector remains robust. But the pace of growth looks to be slowing. Employment and external demand will be key points of interest for us in coming months."