CHINA's services activity expanded at the fastest pace in five months thanks to a solid rise in new business, a private-sector survey showed, reports Reuters.
This lifted optimism in the sector to a three-month high as the data offers a snapshot of business sentiment.
This was in contrast to an earlier official survey that showed a sub-index of services activity shrank again at the end of 2023, raising calls for more stimulus measures in the new year.
The Caixin/S&P Global services purchasing managers' index (PMI) rose to 52.9 in December from November's 51.5, above the 50-mark separating growth from contraction and posting the highest reading since July.
Aided by robust new business which expanded at the fastest rate since May, firms attributed the improvement to rising customer numbers and spending.
SeaNews Turkey
This lifted optimism in the sector to a three-month high as the data offers a snapshot of business sentiment.
This was in contrast to an earlier official survey that showed a sub-index of services activity shrank again at the end of 2023, raising calls for more stimulus measures in the new year.
The Caixin/S&P Global services purchasing managers' index (PMI) rose to 52.9 in December from November's 51.5, above the 50-mark separating growth from contraction and posting the highest reading since July.
Aided by robust new business which expanded at the fastest rate since May, firms attributed the improvement to rising customer numbers and spending.
SeaNews Turkey
