China Service Sector Activity Accelerated in December
On Thursday, the China Caixin Services PMI drew investor interest. Concerns about the Chinese economy resurfaced in the New Year, with the NBS private sector PMIs setting the tone.
However, the Caixin Services PMI increased from 51.5 to 52.9 in December. Economists forecast an increase to 51.6.
According to the Services PMI Survey,
- Service sector activity expanded at the fastest pace for five months.
- Service sector companies reported improved market conditions, driving new business, and a pickup in service sector activity.
- Overseas demand for Chinese services increased at the most marked pace since June.
- Increasing demand allowed firms…
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