China: Rebound in services activity in January

BEIJING (Reuters) – Activity in China’s services sector rose for the first time in five months in January, led by a rebound in consumption and travel following the lifting of strict anti-corruption measures. COVID, shows a private survey released on Friday, which reported confidence among industry executives rising to a nearly 12-year high.

The services PMI index calculated by Caixin/S&P Global rose last month to 52.9 from 48.0 in December, standing for the first time in five months above the 50 threshold that separates contraction and expansion. of the activity.

These results echo those released earlier this week from a wider official survey, reinforcing the idea of ​​a solid rebound in activity in the world’s second largest economy after hiccups during the post-COVID reopening.

Beijing abruptly abandoned its “zero-COVID” policy in December, allowing Lunar New Year celebrations to take place without lockdowns or health restrictions for the first time in three years – a major boost for industry activity. tourism in particular.

(Report Liangping Gao and Ryan Woo; French version Jean Terzian)

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