China’s Services Sector Maintains Recovery, Caixin PMI Shows

Activity in China’s services sector increased at a faster pace in July, recovering from a slowdown in June and marking the seventh straight month of expansion, a Caixin-sponsored survey showed Thursday.

The Caixin China General Services Business Activity Index, which provides an independent snapshot of operating conditions in services industries such as retail and travel, rose to 54.1 from 53.9 in June when it fell to a five-month low. A reading above 50 indicates an expansion in activity, while a number below that signals a contraction.