Ammon News - China’s services sector expanded at its fastest pace in seven months, according to the Caixin survey, compiled by S&P Global.

Its services purchasing managers’ index came in at 52.2 in December, up from 51.5 in November.

Caixin said that the acceleration in business activity growth was supported by greater new business inflows, though it noted that export business declined for the first time since August 2023.

Quicker new business growth, however, increased work backlogs, as firms have lowered employment levels due to a decline in business optimism. CNBC