ACTIVITY in China's services sector expanded at a faster pace in December, buoyed by accelerated growth in demand, according to a Caixin-sponsored survey
ACTIVITY in China's services sector expanded at a faster pace in December, buoyed by accelerated growth in demand, according to a Caixin-sponsored survey. The Caixin China General Services Business Activity Index, which provides an independent snapshot of operating conditions in industries such as retail and tourism, came in at 52.2 in December, up 0.7 points from the previous month.
A reading above 50 indicates an expansion in activity, while a number below that signals a contraction.
The index, also known as the Caixin China services PMI, is one of the earliest available monthly indicators of business activity in the world's second-largest economy. The services sector accounted for about 56 per cent of China's GDP in the first three quarters of last year, according to government data.
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