China’s Services Activity Surpasses Expectations in December, According to Caixin PMI

China’s Service Sector Beats Expectations in December

China’s service sector experienced stronger-than-expected growth in December, surpassing market forecasts and indicating a positive end to the year for the sector. The Caixin Purchasing Managers’ Index (PMI) for the service sector grew to 52.9 in December, surpassing predictions of 51.6 and showing an acceleration from the 51.5 recorded in the previous month. This growth can be attributed to ongoing stimulus measures which have boosted local demand, as well as an improvement in business conditions and market conditions reported by service sector companies.