China’s services sector expanded at fastest pace since October 2010 in May, but job losses continued – private survey
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China’s services sector expanded at fastest pace since October 2010 in May, but job losses continued – private survey
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China’s services sector expanded at fastest pace since October 2010 in May, but job losses continued – private survey

 

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China’s services sector returned to expansionary territory in May for the first time since the coronavirus outbreak erupted, growth at the fastest pace since November 2016, as domestic economy rebounded from coronavirus lockdown.

The Caixin/Markit services purchasing managers’ index (PMI), which focuses on smaller, private firms, jumped to 55 last month, improving sharply from 44.4 in April. A reading above 50 indicates an expansion in activity, while a figure below that points to a contraction.

In February, the index fell to a record low of 26.5 as the economy slowed to . . .

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