China's services activity shrank further in March but at slower pace - private survey

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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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