November PMI Increases

The Caixin-Markit Services Purchasing Managers’ Index registered at 51.9 in November, up from 51.2 in October. This is the highest result in three months and suggests that new business activity in China is picking up pace. Any result higher than 50 indicates expansion, which below 50 represents contraction. Optimism towards the next 12 also increased in November – more than 20% of companies expect greater business activity.