China Services Sector Expands in December, Private Survey Shows
- Caixin services PMI climbs to 52.9, topping estimate of 51.6
- Recent official data provided signs of economic weakness
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A private gauge of China’s services activity climbed to the highest in five months, potentially easing some concern about the economy.
The Caixin services purchasing managers’ index rose to 52.9 last month from 51.5 in November, Caixin and S&P Global said in a statement Thursday. That compares to the consensus estimate among economists of 51.6. A reading over 50 indicates expansion from the prior month.