BEIJING (Reuters) – Activity in China’s service sector grew at its fastest pace in five months in December, a private survey showed on Thursday.
The services PMI index calculated by Caixin/S&P Global rose last month to 52.9, compared to 51.5 in November, above the threshold of 50 separating contraction and expansion of activity.
Businesses attributed the improvement to higher customer numbers and spending, driven by strong new business which grew at the fastest pace since May.
External demand also increased last month. Some 214,000 tourists from France, Germany, Italy, the Netherlands, Spain and Malaysia visited China in December after a temporary visa waiver came into force, which represents, according to the National Immigration Administration, an increase of 28.5% compared to the month of November.
The composite PMI index calculated by Caixin/S&P, which brings together activity in the manufacturing sector and that of the services sector, increased in December to 52.6, compared to 51.6 the previous month.
(Report by Ellen Zhang and Ryan Woo; by Camille Raynaud)
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