Ser­vice sec­tor ex­pands faster

China Daily (USA) - - BUSINESS -

Busi­ness ac­tiv­ity in China’s ser­vice sec­tor ac­cel­er­ated slightly in Au­gust, a pri­vate sur­vey showed on Mon­day. The Caixin China Gen­eral Ser­vices PM I( Pur­chas­ing Man­agers’ In­dex) came in at 52.1 in Au­gust, up from 51.7 in July, ac­cord­ing to the sur­vey con­ducted by fi­nan­cial in­for­ma­tion ser­vice provider Markit and spon­sored by Caixin Media Co Ltd. A read­ing above 50 in­di­cates ex­pan­sion, while a read­ing be­low 50 rep­re­sents con­trac­tion. The sur­veyed com­pa­nies partly linked higher busi­ness ac­tiv­ity to new projects. The sec­tor’s staff num­bers sta­bi­lized in Au­gust af­ter a mar­ginal re­duc­tion in July, as some ser­vice providers hired ad­di­tional em­ploy­ees to help with new projects, the sur­vey showed.

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