China‘s services sector enjoyed its busiest month in half a year in April, with business expectations at their highest level in 12 months, a private sector survey of purchasing managers showed on Friday.
The seasonally adjusted HSBC China Services Purchasing Managers Index (PMI) rose to 54.1 in April from 53.3 in March, its strongest reading since October 2011, and followed an uptick in HSBC’s manufacturing PMI released earlier this week.
The rise in the HSBC services PMI was in contrast to a retreat in China’s official services PMI – albeit from a higher level after revision to its methodology in March – which was weighed down mainly by a continuing downturn in the real estate sector.
Markit Economics, which compiles the HSBC-sponsored survey, detected a broad-based rise in key service sector indicators.
“April data signalled a further rise in new orders placed at Chinese service providers. Although below the…
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