CHINA's services activity picked up in May, according to a private-sector survey as a rise in new orders shored up a consumption-led economic recovery in the second quarter, reports Reuters.
The Caixin/S&P Global services purchasing managers' index (PMI) rose to 57.1 in May from 56.4 in April. The 50-point mark separates expansion from contraction in activity.
The survey, which was based on responses collected from May 12-22, contrasts with the official PMI released last week that showed a slower pace of expansion in the services sector.
'After a sharp but unbalanced rebound in Q1, China's consumption recovery is entering the second stage, which will be more endogenous and powered by broader job gains,' Morgan Stanley analysts said in a note.
SeaNews Turkey
The Caixin/S&P Global services purchasing managers' index (PMI) rose to 57.1 in May from 56.4 in April. The 50-point mark separates expansion from contraction in activity.
The survey, which was based on responses collected from May 12-22, contrasts with the official PMI released last week that showed a slower pace of expansion in the services sector.
'After a sharp but unbalanced rebound in Q1, China's consumption recovery is entering the second stage, which will be more endogenous and powered by broader job gains,' Morgan Stanley analysts said in a note.
SeaNews Turkey
