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- Chinese HSBC services PMI increases to 52.9 in April
Chinese HSBC services PMI increases to 52.9 in April
The Chinese HSBC services PMI increased to 52.9 in April from 52.3 in March.
A reading below 50.0 indicates contraction.
The increase was driven by higher new orders and employment in the service sector.
"The latest set of PMI data indicated that Chinese service-sector companies had a strong start to the second quarter, with activity and new orders both rising solidly in April," the HSBC's chief economist for China Qu Hongbin said.
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