China’s Services Activity Surges to More Than Two-Year High
- Caixin services PMI climbs to 57.8 in March, survey shows
- Domestic demand is picking up, home sales also improving
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China’s services activity accelerated in March, a private survey showed, adding to expectations that stronger demand will bolster the economy’s recovery this year.
The Caixin China services purchasing managers’ index rose to 57.8 in March, the strongest level since November 2020, Caixin and S&P Global said in a statement Thursday. That was higher than economists’ expectations the data would match February’s reading of 55.