China services sector expands in December

(Sharecast News) - Activity in China's services sector grew in December at the fastest rate in seven months amid a jump in domestic demand, although foreign orders fell, according to a survey released on Monday. The Caixin/S&P Global services purchasing managers' index ticked up to 52.2 from 51.5 in November. This was above the reading of 51.7 expected by economists and the fastest expansion since May 2024.

A reading above 50 indicates expansion, while a reading below signals contraction.

The new business sub-index printed at 52.7 in December, up from 51.8 in November.

Wang Zhe, senior economist at Caixin Insight Group, said: "Since late September, the synergy of existing policies and additional stimulus measures has continued to act on the market, producing more positive factors."