The service sector in China grew somewhat faster in August than a month earlier. This was evident from the purchasing managers index of market researchers Caixin and Markit.
The purchasing managers’ index for the services sector recorded a score of 52.1 against 51.6 a month earlier. A level of 50 or less indicates shrinkage. Economists generally counted on a score of 51.7
According to the researchers, the composite index, including industry, showed a reading of 51.6 for July compared to 50.9 in July.