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China's services activity expands in May
Updated: Jun 5, 2023
By Zhang Yue
chinadaily.com.cn
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China's services activity recorded momentum in May, a private survey showed on Monday.
The Caixin China General Services Purchasing Managers' Index went up to 57.1 in May from the 56.4 in April, and is a level higher than the official figures released last week. The 50-point mark separates expansion from contraction in activity.
The private survey found that service companies reported a rise in new business in May mainly pushed by the May Day holiday.
The Caixin's composite PMI, which includes both manufacturing and services activities, picked up to 55.6 from 53.6 in April.
zhangyue@chinadaily.com.cn
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