China's Services Activity Picked Up in May After Trade War Truce
China's services activity expanded at a faster pace in May, a private survey showed, in a sign the consumer economy is stabilizing while higher US tariffs threaten demand for exports.
The Caixin China services purchasing managers' index rose to 51.1 from 50.7 the month before, according to a statement from Caixin and S&P Global on Thursday. The median forecast of economists surveyed by Bloomberg was 51. Any reading above 50 suggests expansion.
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