GROWTH in China's services sector accelerated in May, with overall demand and business confidence improving, reports Caixin.
But foreign demand contracted for the first time this year amid continued trade uncertainties, 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 51.1 in May, up 0.4 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 China. The services sector accounted for about 61 per cent of China's GDP in the first quarter, according to government data.
SeaNews Turkey
But foreign demand contracted for the first time this year amid continued trade uncertainties, 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 51.1 in May, up 0.4 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 China. The services sector accounted for about 61 per cent of China's GDP in the first quarter, according to government data.
SeaNews Turkey
