China’s service sector activity expanded at a slower pace in November amid rising inflationary pressures and small Covid-19 surges, the Caixin Purchasing Managers Index (PMI) survey showed. Markit.
The Caixin/Markit PMI fell to 52.1 in November from 53.8 in October, but remained above the 50 mark separating growth from contraction.
The reading of the private survey, which focuses more on small companies in coastal regions, followed that of the official survey, which also showed a loss of strength in the expansion in the services sector.
The new business sub-index advanced, but at the weakest pace since August. But companies’ expectations improved compared to the previous month.
Caixin’s Composite PMI for November, which brings together both the industrial and service sectors, fell to 51.2 from 51.5 the previous month.
Reference: CNN Brasil
I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
