BEIJING: The services sector saw modest growth in China in February despite the marginal contraction in business transactions on a monthly basis amid renewed optimism about its long-term recovery, a private survey has said.
The headline seasonally adjusted Caixin Business Activity Index, which measures the operations of China’s service industry, edged down from 52.0 in January to 51.5 in February due to falling overseas demand and pressures in the domestic job market. The monthly reading still remained in expansionary territory, even though it was the lowest reading since April last year.