Though slower to recover from the coronavirus than manufacturing, a gradual improvement in consumption has stimulated activity in China’s services sector, which includes many smaller and private companies. Photo: EPA-EFE
China’s services industry under pressure from ‘enormous’ inflation pressure, weak overseas demand
- The Caixin/Markit services purchasing managers’ index (PMI) fell to 55.1 in May, down from 56.3 in April but still well in expansionary territory
- The Caixin PMI contrasts with an official survey released earlier this week, which showed activity in China’s services sector expanded at a faster pace in May
Though slower to recover from the coronavirus than manufacturing, a gradual improvement in consumption has stimulated activity in China’s services sector, which includes many smaller and private companies. Photo: EPA-EFE
