China’s services sector expands further on upbeat consumer demand

China’s services sector expands further on upbeat consumer demand

November had seen an expansion in China’s services sector, with new businesses accelerating at the most rapid pace in over a decade. The reading released by a private survey highlighted a rebound in consumer demand after the country managed to put the coronavirus pandemic under control.

The Caixin/Markit services Purchasing Managers’ Index (PMI) was read at 57.8, the second-highest reading since April 2010. It remained above the 50 threshold that separates expansion and contraction as it surpassed the 56.8 record seen in October.

The survey showed that the total number of new businesses reached milestone peak in November. This was mainly from new export business advancing for the first time in five months. In addition to this, hiring in the services sector was seen upbeat.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?