- Activity in China's services sector further improved in April, with expor...
BEIJING, - - Activity in China’s services sector further improved in April, with export sales rising at a record pace, a private business survey showed on Monday, although the longer-term outlook for new orders stayed subdued due to global economic uncertainties.
The strength in services, which account for more than half of China’s economy, would help to counter any volatility in the country’s manufacturing sector, which is still searching for firm footing. “In general, China’s economy looked resilient in April, especially in the services sector,” Zhengsheng Zhong, director of macroeconomic analysis at CEBM Group, said in a commentary released alongside the Caixin data.
Job creation in the sector rose the most in 10 months, but a sub-gauge measuring the outlook for the year ahead remained subdued, capped by concerns over the strength of the global economy.
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