China Caixin Services PMI at 51.5... Exceeds Market Expectations
China's Caixin Services Purchasing Managers' Index (PMI) for November recorded 51.5, exceeding market expectations.
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Chinese economic media Caixin reported on the 5th that the November Caixin Services PMI was 51.5. This not only rose from the previous month (50.4) but also significantly surpassed the market forecast (50.7). The PMI is a key leading indicator for assessing the economy; a reading above the baseline of 50 indicates economic expansion, while below 50 indicates contraction.
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