China’s Services Activity Keeps Growing, Caixin PMI Shows

China’s services activity maintained an expansion in August as the sector continued to benefit from reduced disruptions amid a recovery from an earlier wave of Covid-19, a Caixin-sponsored survey showed Monday.

The Caixin China General Services Business Activity Index, which gives an independent snapshot of operating conditions in services industries such as retailing and travel, edged down to 55 in August from 55.5 the previous month. A number above 50 indicates an expansion in activity, while a figure below that signals a contraction.