China’s services sector activity expanded at slower pace as COVID-19 resurgence tempers recovery – private survey

 

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China’s services sector activity expanded at a slower pace in December, a private sector survey showed on Wednesday, as sporadic coronavirus outbreaks tempered the recovery in consumer confidence and weighed on new business growth.

The Caixin/Markit services Purchasing Managers’ Index (PMI) eased to 56.3, a three-month low, in December from 57.8 in November, but remained well above the 50-mark that separates growth from contraction on a monthly basis, pointing to brisk expansion.

A sub-index for new business stood at 54.3, down markedly from 58.7 the previous . . .

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