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ECONOMY

Services Sector Grows at Fastest Pace in Three Years

Rising business requirements led services providers to continue to expand their payrolls in December, although the rate of job creation was moderate. Photo: Visual China
Rising business requirements led services providers to continue to expand their payrolls in December, although the rate of job creation was moderate. Photo: Visual China

China’s service activity expanded at its quickest pace in more than three years in December, a Caixin survey showed Thursday, a further sign of resilience in the world’s second-largest economy.

The Caixin China General Services Business Activity Index rose to 53.9 in December, up from 51.9 in the previous month and the highest reading since August 2014. A number above 50 indicates an expansion in activity, while a figure below that points to a contraction.

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