Indicators
China Services Growth Picks Up More Than Expected After Stimulus
- Caixin gauge jumps by most from prior month since last March
- Upbeat reading follows improvements in manufacturing, housing
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China’s service activity expanded at the fastest pace since July, a private survey showed, a sign that consumer demand may be on the mend after Beijing moved to shore up growth with a barrage of stimulus measures.
The Caixin China services purchasing managers’ index rose to 52 in October from 50.3 the previous month, the biggest jump since March last year, Caixin and S&P Global said Tuesday. The pace of expansion exceeded a median forecast of 50.5 by economists.