Caixin Services PMI Hits 16-Month High in November

(Beijing) — Expansion in China’s service sector gained momentum last month as an indicator tracking the industry’s activity jumped to its strongest level in 16 months, data from a survey sponsored by Caixin showed Monday.

The Caixin General Services Purchasing Managers’ Index (PMI) was 53.1 in November, up from 52.4 in October and the highest reading since 53.8 in July 2015.