Service Sector Continues Growth in China with Caixin PMI Reaching 52.1

(Beijing) -- The growth of China’s service sector accelerated in August as the Caixin General Services Purchasing Managers’ Index (PMI) rose to 52.1 from 51.7 in July.

However, the Caixin Composite Output Index, which reflects the health of both manufacturing and service sectors, fell to 51.8 from July’s 22-month high of 51.9. The number was dragged down by the manufacturing sector, which stalled last month.