12/5/2023, 2:46 AM (Source: TeleTrader)
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China's services activity expands in November

Caixin China Purchasing Managers Index (PMI) landed at 51.5 in November, signaling an expansion in the country's services activity, according to a report released by S&P Global on Tuesday.

According to the report, companies expressed increased optimism about the year-ahead outlook, but employment saw a fractional decline as some firms maintained a cautious approach to hiring.

"The downward trend of the gauge for service provider' expectations about future activity came to an end after four consecutive months of decline, moving up by more than 2 points," Senior Economist at Caixin Insight Group Dr. Wang Zhe said, noting that the "optimism in the services industry rebounded."

Baha Breaking News (BBN) / NL