In yet one more sign that China has not only dodged the recession but it has been largely unaffected by the troubled economies of the rest of the world, the services sector of the People’s Republic expanded again in December.
According to a report in The Wall Street Journal:
An index of service-sector activity in China rose for the third straight month in December and added to recent signs of a rebound for the world’s second-largest economy.
China’s official non-manufacturing Purchasing Managers’ Index rose to 56.1 in December from 55.6 in November, according to a statement Thursday from the China Federation of Logistics and Purchasing, which issues the data with the National Bureau of Statistics.
The December reading marks the highest level for the index since August. A reading above 50 indicates expansion in non-manufacturing activity from the previous month, while anything below that indicates contraction.
Douglas A. McIntyre
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
