Caixin Services Sector Index Rises to 11-Month High

(Beijing) – China's services sector activity rose to an 11-month high in June as Beijing promoted the sector to replace traditional manufacturing, with the headline Caixin General Services PMI rising to 52.7.

The reading compares with 51.2 for May, with performance improvements registered in each of index's categories. New business orders were particularly strong, rising to their highest level since July 2015. The June reading was the highest since last July, when the index came in at 53.8.