Mubasher: China’s services activity rose to 51.9 points in November, compared to 51.2 points in October, said on Tuesday Caixin Purchasing Managers’ Index (Caixin China General Services PMI).
Month-on-month, business activity grew, Caixin China General Services Index’s data added.
“The Caixin China General Services Business Activity Index rebounded for the second straight month in November to 51.9, 0.7 points higher than in October,” Director of Macroeconomic Analysis at CEBM Group, Zhengsheng Zhong said.
“New business expanded at a rapid pace while input costs and prices charged continued to rise, mainly driven by the strong reading in the service sector, the headline Caixin China Composite PMI came in at 51.6 in November, 0.6 points higher than for the previous month,” Zhong added.
“The Caixin PMI readings in November showed the economy has maintained stability and there was no imminent risk of a significant decline in its growth rate,” the director of Macroeconomic Analysis at CEBM Group concluded.