A survey of China’s services sector showed a boost in growth during August, suggesting private services companies are gaining ground on their larger, state-run counterparts.
The Caixin-Markit services purchasing managers’ index came in at 52.7 in August, rebounding from July’s dip and rising further above the 50-point line separating growth from contraction.
The reading was the highest in three months, with new business at services companies growing at the quickest pace in as much time. Outlook for the coming 12 months improved marginally, with one in five companies surveyed expecting expansion over said period.
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