A private gauge of China’s service activities edged up in May and remained in expansionary territory for the fifth consecutive month, suggesting continued recovery in the services sector after Beijing’s lifting of Covid restrictions.
The Caixin China services purchasing managers index rose to 57.1 in May from 56.4 in April, Caixin Media Co. and S&P Global said Monday. The 50 mark separates expansion from contraction.
China’s official nonmfanucturing PMI, which covers both service and construction activity, dropped to 54.5 in May from 56.4 in April, according to official data. The subindex tracking service activity declined to 53.8 in May from 55.1 in April.
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