China has been making the transition from heavy industries to a services-led and consumption-driven economy [Xinhua]Activity in China’s services sector rose to an 11-month high in June, a private survey showed on Tuesday.
The Caixin/Markit services purchasing managers’ index (PMI) for June rose to 52.7 from 51.2 in May.
Numbers above 50 indicate improving conditions.
China has been making the transition from heavy industries to a services-led and consumption-driven economy.
China’s official services PMI data released last week showed the services PMI rose to 53.7 in June, better than May’s 53.1 figure.
The official data generally tracks larger and state-owned enterprises, while the the Caixin survey focuses on smaller, private companies.
TBP and Agencies
Source