China’s Dec services activity expands at quickest pace in 5 months – Caixin PMI

BEIJING, Jan 4 (Reuters) – China’s services activity expanded at the fastest pace in five months thanks to a solid rise in new business, a private-sector survey showed on Thursday, lifting the degree of optimism in the sector to a three-month high. The data, offering a snapshot of business sentiment, was in contrast to an official survey on Sunday which showed a sub-index of services activity shrank again at the end of 2023, raising calls for more stimulus measures in the new year. The Caixin/S&P Global services purchasing managers’ index (PMI) rose to 52.9 in December from November’s 51.5, above the 50-mark separating growth from contraction and posting the highest reading since July. Aided by robust new business which expanded…