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.
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