CN Mar Caixin Service PMI Hikes to 52.7, Beating Consensus

Aastocks 03/04/2024 09:46

Economic activity in the service sector in China continued to expand in March 2024, with the recovery in the sector sentiment picking up. Caixin China General Services Business Activity Index (Service PMI) last posted at 52.7 in March, up 0.2 ppts from February and ahead of the street consensus of 52.5. This signaled an accelerated recovery in service sector sentiment.

Since the beginning of 2023, Caixin China Service PMI has been in expansionary territory for 15 straight months, indicating that economic activity in the service sector has continued to boom.

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