BEIJING (Reuters) – Growth in China’s service activity accelerated in March, a private survey showed on Wednesday, with new businesses growing at their fastest pace in three months.
These data, added to those better than expected from the manufacturing sector, suggest that the Chinese economy is regaining momentum in the first quarter.
The Caixin services PMI index stood at 52.7 last month, compared to 52.5 in February, remaining for a fifteenth consecutive month above the threshold of 50, which separates contraction and expansion of activity.
Underlying demand and efforts to boost new orders helped the new business subindex rise at its fastest pace since December.
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The Caixin composite index, which brings together the manufacturing and services sectors, increased to 52.7 in March, compared to 52.5 the previous month, its highest level since May 2023.
(Ellen Zhang and Ryan Woo; French version Camille Raynaud)
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