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China’s services sector expanded at fastest pace in a decade, employment stuck in contraction – private survey


China’s services sector expanded at the fastest pace in more than ten years in June as the economy further recovers from coronavirus shutdowns, a private survey showed on Friday.

The Caixin/Markit services Purchasing Managers’ Index (PMI) increased to 58.4, the highest reading since April 2010, picking up from 55.0 in May, pulling further away from the trough hit in February as the coronavirus lockdown paralysed the economy.

A reading above 50 . . .

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