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CN Caixin Services PMI Rises to 52.2 Last Mth, Beating Forecasts
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The Caixin China General Services Business Activity Index (service PMI) for December 2024 grew 0.7 ppts from November to 52.2, marking the highest since June 2024 and beating the market expectation of 51.4, indicating an accelerated expansion in service sector activities, Caixin.com announced. According to the sub-index data of the Chinese Caixin Services PMI, the pace of supply and demand expansion slightly increased last month, with the new orders index reaching its highest in five months. However, the demand increase was mainly driven by domestic demand, while external demand contracted, leading the new export orders index to fall below the critical point for the first time since August 2023 and hit a nearly two-year low. Meanwhile, sample companies reported a waning interest from overseas clients in China's service sector. Last month, the Caixin Composite PMI retreated to 51.4. AAStocks Financial News |
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