Services Sector Activity Eases From Seven-Year High
China’s service activity was strong in February, but fell back from a seven-year high in the previous month as a second straight monthly drop in new work was too heavy to offset growth in sales.
The Caixin China General Services Business Activity Index came in at 54.2 last month, down from 54.7 in January, which was the highest reading since October 2010. A number above 50 indicates an expansion in activity, while a figure below that points to a contraction.
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