China’s Services Activity Picks Up in Sign of Economic Momentum
With trade tensions still rife, China is looking to build up its consumer sector into a key engine of growth.
Photographer: Qilai Shen/BloombergChina’s services activity picked up after growing at a slower rate for four straight months, a private survey showed, suggesting that pockets of the economy are seeing renewed momentum despite a rocky start to the year.
The RatingDog China services purchasing managers’ index rose to 52.3 in January from 52 in the prior month, according to a statement published Wednesday. The median forecast of economists surveyed by Bloomberg was for no change from December, with any reading above 50 indicating an expansion.