Posted 12/5/2023, 1:20:39 AM
China Services Sector Shows Uneven Recovery in November - Caixin PMI Up, Official PMI Down
- China's services sector expanded at faster pace in November per Caixin PMI survey, but official PMI showed unexpected contraction
- New orders and business activity picked up, pointing to healing in the market
- Firms remained optimistic about business prospects in the coming year
- However, property sector weaknesses continued to drag on growth
- Employment fell for the first time since early 2023 as firms remained cautious on hiring