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China's services sector has first rebound in 4 months
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CHINA’S services sector rebounded for the first time in four months in February with the country beefing up efforts at economic restructuring.
The official non-manufacturing Business Activity Index, a gauge of operating conditions in service companies, increased 1.6 points from a month earlier to 55 in February, the National Bureau of Statistics and the China Federation of Logistics and Purchasing said this morning.
A reading above 50 means expansion. The latest index signaled the first increase since October.
The components showed that new orders gained 0.5 points to 51.4 last month, while prices fell 1.1 points to 49. Business expectations jumped to 59.9 after declining for two straight months. It was up from January's 58.1, indicating relatively positive sentiment among service companies.
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