China Services Sector Grows on Export and Domestic Demand Uptick, Caixin PMI Shows

Activity in China’s services sector grew at a quicker rate in March, marking a 15-month streak of expansion as both exports and domestic demand picked up pace, according to a Caixin-sponsored survey released Wednesday.

The Caixin China General Services Business Activity Index, which provides an independent snapshot of operating conditions in industries such as retail and tourism, picked up 0.2 points in March from the previous month to 52.7. A reading above 50 indicates an expansion in activity, while a number below 50 signals a contraction.