The Purchasing Managers Index Chinese services sector PMI rose to 51.5 in November compared to 50.4 points in October, according to the latest data published by Caixin on Tuesday. This is the best figure recorded by the indicator in three months.
The result exceeds market expectations, since an increase of less than 50.8 points was expected.
Business activity and new orders are increasing at the fastest rates in three months.
Improves confidence over a year.
Inflationary pressures weaken.
Commenting on the China General Services PMI™ data, Dr. Wang Zhe, Senior Economist at Caixin Insight Group said: “Both supply and demand for services expanded as the market continued to heal. Indicators of business activity and total new orders were above 50 for the 11th consecutive month and reached three-month highs.”
“However, some companies surveyed reported that the market improvement was slightly weaker than expected,” Wang added.
Source: Fx Street
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