05.12.202300:53:00UTC+00China Service Sector Picks Up Steam In November - Caixin

The service sector in China continued to expand in November, and at a faster rate, the latest survey from Caixin revealed on Tuesday with a PMI score of 51.5.

That's up from 50.4 in October and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

Aiding the quicker rise in Chinese services activity was a stronger upturn in total new business midway through the final quarter of the year. The rate of new order growth was likewise the best recorded since August, albeit moderate overall.

Companies that experienced higher sales often mentioned that this was due to firmer underlying market conditions. The surveys indicated that both domestic and overseas demand for Chinese services improved in November, with new export business rising modestly for the third straight month.

Also, the composite index improved to 51.6 in November from 50.4 a month earlier.