Activity across China's services sector grew sharply in August, in a sign of improved domestic demand as the country’s economic recovery continues to gather pace.
An official gauge tracking the country’s non-manufacturing sector beat expectations to hit 55.2 in August, compared with 54.2 in July, the country's National Bureau of Statistics said on Monday. A reading above 50 indicates expansion compared with the previous month.
Improved performance in the services sector suggests that China's broader economic recovery, which has been powered by state-supported industrial growth, is feeding through into businesses that were hit hard by the coronavirus outbreak and subsequent measures to contain its spread.
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