China’s Services Activity Gets Back to Growth, Caixin PMI Shows
Services activity in China bounced back into expansionary territory in June for the first time since February as Covid-19 containment measures were loosened, a Caixin-sponsored survey showed Tuesday.
The Caixin China General Services Business Activity Index, which gives an independent snapshot of operating conditions in the sector, jumped to 54.5 in June from 41.4 the previous month to reach the highest in 11 months, the survey report showed. A number above 50 indicates an expansion in activity, while a figure below that points to a contraction.
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