The Caixin/Markit Services Purchasing Managers’ Index (PMI) for China rose to 52.2 in March from 51.2 in February, exceeding expectations for a rise to 51.4.
The index was mainly driven by a rise in new orders.
“Overall, the services sector developed well, but the economy is riding choppy waves, indicating the lack of a solid foundation for a recovery. The government needs to push forward with “supply-side reform” to encourage the development of emerging industries,” Dr. He Fan, Chief Economist at Caixin Insight Group, said.
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