© Reuters
Investing.com– China’s service sector grew past expectations in December, a private survey showed on Thursday, as continued stimulus measures helped push up local demand, while a rout in overseas orders also eased.
The (PMI) grew 52.9 in December, handily beating expectations of 51.6 and accelerating from the 51.5 seen in the prior month.
The reading marked a somewhat positive end to the year for China’s service sector, which has so far managed to duck a contraction seen in manufacturing activity. Caixin analysts said that companies in the service sector reported better market conditions and a sustained improvement in business conditions- which pushed up employment and inflation.
Service sector firms also turned more positive over their prospects in 2024, the Caixin survey showed.
Chinese consumer spending appeared to be recovering in recent months, with…
