China Services Activity Rebounds Further as Covid Restrictions Ease, Caixin PMI Shows

Services activity in China continued to rebound in July as Covid restrictions eased, a Caixin-sponsored survey showed Wednesday, offering some good news for economic growth as the manufacturing sector’s expansion weakened.

The Caixin China General Services Business Activity Index, which gives an independent snapshot of operating conditions in services industries such as retailing and travel, rose to 55.5 from 54.5 the previous month, the highest reading since April 2021. A number above 50 indicates an expansion in activity, while a figure below that points to a contraction.