China services expand at fastest pace in 3 months, private survey shows

China’s services sector expanded at a quicker pace in November, as demand strengthened in Asia’s largest economy.

The Caixin services purchasing managers’ index, a closely watched private survey of activity in the sector, came in at 51.5, well ahead of analyst expectations and above the 50-point mark, indicating expansion.

The reading, which was the highest in three months despite remaining below the long-term average, was boosted by an increase in new orders, signalling firming demand.

China has struggled to boost consumer and business confidence since the unwinding of Covid-19 restrictions at the end of last year.