Activity in China’s services sector expanded at the fastest pace in six months in February as the removal of tough COVID-19 restrictions revived customer demand, driving a solid increase in employment, a private sector survey showed on Friday.
The Caixin/S&P Global services purchasing managers’ index (PMI) rose to 55.0 in February from 52.9 in January, a back-to-back monthly increase in activity after the government abruptly dismantled anti-virus measures in December.
The 50-point mark separates expansion and contraction in activity on a monthly basis.
The reading tallies with an official services PMI released on Wednesday, suggesting a robust recovery in the sector is well under way.
Service companies reported the strongest rise in new business since April 2021, while new export order growth accelerated to the highest in almost four years, the Caixin survey showed.
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