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Headline : China services activity remains steady as expected in April- Caixin PMI

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Tags : #china #services #activity #remains #steady #expected #april #caixin #pmi



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Investing.com-- Chinaโ€™s services sector grew at a steady pace in April as expected, a private survey showed on Monday, as new business activity grew and as export demand also improved from last yearโ€™s lows.ย 

The Caixin Services Purchasing Managers Index (PMI) read 52.5 in April, in line with expectations, and fell slightly from the prior monthโ€™s reading of 52.7.ย 

The reading indicated that some aspects of the Chinese economy remained resilient, especially amid sustained stimulus and policy support from Beijing. External demand also appeared to be improving.

โ€œThe recovery of the global economy has resulted in an increase in inbound tourist numbers. This has helped produce an upward trend in service exports,โ€ Wang Zhe, Senior Economist at Caixin Insight Group said in a note.ย 

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