China’s services sector shows strong first growth since start of coronavirus outbreak as controls eased

China’s services sector bounced back strongly in May, posting the first growth since the beginning of the coronavirus outbreak earlier this year, as strict controls aimed at containing the pandemic were eased, a private survey showed on Wednesday.The Caixin/Markit services purchasing managers’ index (PMI), which focuses on smaller, private firms, jumped to 55.0 in May from 44.4 in April. A reading above 50.0 indicates growth in sector activity, while a reading below indicates contraction.The…

from South China Morning Post https://www.scmp.com/economy/china-economy/article/3087296/coronavirus-chinas-services-sector-returns-growth-pandemic