Strong services sector drives resurgent Chinese GDP
The Headline SMI for China increased to the highest level since July 2015, with the Sales Growth Index for the Services sector rising to 56.4, indicating very rapid growth in this increasingly dominant area of economic activity, and reflecting the rising importance of the Chinese consumer spending.
The Prices Charged Index continues to rise in both Manufacturing and Services sectors, suggesting building inflationary pressures in the economy.
Business optimism remains tepid overall however managers in the Service sector were considerably more upbeat than those in the Manufacturing sector.
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