China Services Activity Picks Up, Caixin PMI Shows

Activity in China’s services sector grew at its fastest pace in five months in December, capping a year of consecutive expansion, according to a Caixin-sponsored survey released on Thursday.

The Caixin China General Services Business Activity Index, which provides an independent snapshot of operating conditions in industries such as retail and tourism, rose to 52.9 last month from 51.5 in November. A reading above 50 indicates an expansion in activity, while a number below signals a contraction.