China's services sector continues sharp rise in May - Breaking The News

China's services sector continues sharp rise in May

5 June

1 min read

MARTA MARKES / UNSPLASH

China's services sector continued to expand further in May signaling a strong recovery, according to the latest report jointly published by S&P Global and Caixin Insight.

The seasonally adjusted headline Business Activity Index arrived at 57.1 in May, rising 0.7 index points from the prior month to mark the second-steepest expansion rate since November 2020. Meanwhile, Composite Output Index improved by 2 index points from April to land at 55.6 in May, at the most rapid pace since the end of 2020.

"Production, demand and exports all expanded ... In general, it remains a prominent feature of the Chinese economy that the services sector is stronger than manufacturing," Caixin Senior Economist Dr. Wang Zhe said in the report.

data services pmi

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