Growth in China’s Services Sector Softens, Caixin PMI Shows

Activity in China’s services sector expanded in November for the third consecutive month, but growth softened from October amid Covid-19 flare-ups and rising inflation, a Caixin-sponsored survey showed.

The Caixin China General Services Business Activity Index, which gives an independent snapshot of operating conditions in the sector, fell to 52.1 in November from 53.8 the previous month, according to the survey report released Friday. A number above 50 indicates an expansion in activity, while a figure below that points to a contraction.