China’s Services Activity Shrinks Amid Renewed Covid Woes, Caixin PMI Shows
China’s services activity slipped into contraction in September after three consecutive months of expansion, as a fresh round of Covid-19 outbreaks and tightened containment measures disrupted operations and restricted mobility, a Caixin-sponsored survey showed Saturday.
The Caixin China General Services Business Activity Index, which gives an independent snapshot of operating conditions in services industries such as retailing and travel, fell to 49.3 in September from 55 the previous month. A number above 50 indicates an expansion in activity, while a figure below that signals a contraction.
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