China’s service sector expanded for fourth straight month, employment picked up for first time since January – private survey

 

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China’s services sector activity expanded in August for the fourth consecutive month, although at a slightly slower pace, and employment in the sector picked up for the first time since January, a private survey showed on Thursday.

The Caixin/Markit services purchasing managers’ index (PMI), which focuses on sentiment within smaller, private firms, fell slightly to 54 in August from 54.1 in July, which was the highest reading since April 2010, but remained in expansionary for a fourth consecutive month.

A reading above 50 indicates expansion in sector activity, while a . . .

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