China's services activity expands sharply in April

Freitag, 07. Mai 2021 04:04

Caixin China PMI landed at 56.3 in April, landing in line with expectations and marking an increase compared to the figure of 54.3 recorded in March, according to a report released by the IHS Markit on Friday.

China's service sector business activity saw another solid increase in April, with the figure marking the steepest rate of growth seen for four months and showing sustained improvement as the headline index has remained above the neutral 50 for ten months straight.

"The reading hit the highest level this year, signaling an accelerated recovery of the services sector," said Senior Economist at Caixin Insight Group Dr. Wang Zhe. "Surveyed service providers were confident about the control of the epidemic and the economic recovery," he cocnluded.

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