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China’s services sector activity picked up in March, improving from February when China saw unprecedented business closures and public lockdowns amid the coronavirus outbreak, but remained in contractionary territory, a private survey showed on Friday.
The Caixin/Markit services Purchasing Managers’ Index (PMI) rebounded to 43 in March from a record low of 26.5 in February, but it remained deep in contractionary territory and was the second weakest reading since the survey began in late 2005.
The 50-point mark separates growth from contraction on a monthly basis.
The services sector . . .
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