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China’s services activity ‘plunges’ after coronavirus flare-ups

Summary:
[unable to retrieve full-text content]Activity in China’s services sector “plunged” in August due to a series of coronavirus outbreaks, a private survey showed on Friday, matching the findings in the official data released earlier this week.The Caixin/Markit services purchasing managers’ index (PMI) – a gauge of sentiment among smaller, private firms – fell to 46.7 in August from 54.9 in July. It was the first time that services activity shrank since April 2020.The result was well below expectations by analysts polled by Bloomberg,…

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[unable to retrieve full-text content]
Activity in China’s services sector “plunged” in August due to a series of coronavirus outbreaks, a private survey showed on Friday, matching the findings in the official data released earlier this week.The Caixin/Markit services purchasing managers’ index (PMI) – a gauge of sentiment among smaller, private firms – fell to 46.7 in August from 54.9 in July. It was the first time that services activity shrank since April 2020.The result was well below expectations by analysts polled by Bloomberg,…

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