Services Growth Accelerates in April

Growth in China’s service activity picked up in April after hitting a four-month low in March as new business and employment expanded at a faster pace, a Caixin survey showed Friday.

The Caixin China General Services Business Activity Index, which tracks the country’s growing services sector, rose to 52.9 in April, up from 52.3 in March. A number above 50 indicates an expansion in activity, while a figure below that points to a contraction.