CHINA's services activity again expanded at a solid pace in August, though slightly slower than the previous month, a Caixin-sponsored survey show, reported the China Economic Review.
Employment
in the sector grew for the first time since January, reported Caixin.
The Caixin China General Services Business
Activity Index, which gives an independent snapshot of operating conditions in the
services sector, fell to 54 last month from 54.1 in July. The index has
been in expansionary territory for four months in a row, though it has come
down from a decade-high in June. A number above 50 indicates an expansion in
activity, while a figure below that points to a contraction.
The
index's performance showed that the sector continued to recover from the
fallout of the Covid-19 pandemic as people's spending on services, such as
movies, was returning to normal after recent clusters of coronavirus infections
were contained.
Service
companies remained generally upbeat about the outlook for business over the
next 12 months, but the degree of optimism dipped to a three-month low.
"There were also some companies that expect the pandemic to continue to
impact their business operations and sales in the months ahead," IHS
Markit said in the statement.
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