China services activity hits 7-month high but US trade fears dent optimism, Caixin PMI shows
demand, but orders from abroad declined, reflecting growing trade risks to the economy, a private sector survey showed on Monday.
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The Caixin/S&P Global services purchasing managers' index (PMI) rose to 52.2 in December from 51.5 the previous month. The growth pace was the fastest since May 2024, surpassing the 50-mark that separates expansion from contraction on a monthly basis.
The findings broadly align with China's official PMI released last week, which indicated non-manufacturing activity recovered to 52.2 from 50.0 in November.
China's economy has struggled over the past few years, weighed down by weak consumption and investment, and a severe property crisis. Exports, one of the few bright spots, could face more U.S. tariffs under a second Trump administration.
To revitalise the faltering economy, authorities introduced a blitz of fiscal and monetary measures in recent months.
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