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Financial News: China Services PMI Jumps To 55.0 In May

China Services PMI Jumps To 55.0 In May - Caixin

06/02/2020 - 21:56:00 (RTTNews)

(RTTNews) - The services sector in China turned to expansion in May, the latest survey from Caixin revealed on Wednesday with a services PMI score of 55.0.

That's up from 44.4 in April and it moves above the boom-or-bust line of 50 that separates expansion from contraction.

Individually, business activity and new work rose at the quickest rates since 2010. The pandemic continued to weigh heavily on export orders, and employment fell slightly as firms looked to raise efficiency.

The survey also showed that its composite index jumped to 54.5 in May, up from 47.6 in the previous month.

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