12/3/2020, 2:46 AM (Source: TeleTrader)
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China's service sector activity soars in November

The service sector activity in China recorded an jump in November, with the Business Activity Index at 57.8, up from 56.8 in October, according to a release by IHS Markit on Thursday. The figure beat expectations and marked the second-quickest growth since April 2010.

Employment growth was strongest since October 2010 as new orders jumped, leading business owners to be more confident about the future of the economy.

"A majority of surveyed service providers were confident about the control of the epidemic and the economic recovery, while only 2% said they were pessimistic," senior economist at Caixin Insight Group, Dr. Wang Zhe, stated.

Breaking the News / VP