China Services Sector Improves Further as Covid Wave Subsides, Caixin PMI Shows

Activity across China’s services sector expanded at the fastest pace in seven months in February with supply, demand and employment all improving as Covid-19 infections subsided, a Caixin-sponsored survey showed Friday.

The Caixin China General Services Business Activity Index, which gives an independent snapshot of operating conditions in services industries such as retail and travel, rose to 55 in February — a high not seen since August 2022 — from 52.9 the previous month. A number above 50 indicates an expansion in activity, while a figure below signals a contraction.