China’s Consumers Lead Recovery in April
SINGAPORE—Activity in China’s services sector grew at a healthy pace in April, a sign that Chinese consumers continue to drive the country’s economic rebound as its factory sector quickly decelerates.
China’s official purchasing managers index for the nonmanufacturing sectors of the economy—that is, services and construction—came in at 56.4 in April, a weaker reading than March’s 58.2 level but still comfortably above the 50 mark that separates expansion from contraction, according to data released Sunday by China’s National Bureau of Statistics.
SINGAPORE—Activity in China’s services sector grew at a healthy pace in April, a sign that Chinese consumers continue to drive the country’s economic rebound as its factory sector quickly decelerates.
China’s official purchasing managers index for the nonmanufacturing sectors of the economy—that is, services and construction—came in at 56.4 in April, a weaker reading than March’s 58.2 level but still comfortably above the 50 mark that separates expansion from contraction, according to data released Sunday by China’s National Bureau of Statistics.
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