BEIJING, Oct. 9 (Reuters) – The recovery in China’s service sector activity picked up speed in September, advancing for a fifth consecutive month, according to final Caixin / Markit survey results released on Friday, with a number of hires on the rise for a second month in a row.
The services PMI index calculated by Caixin / Markit last month stood at 54.8 against 54n0 in August, a high since June and a fifth consecutive month above the threshold of 50 that separates contraction and business expansion.
The service sector, which accounts for about 60% of the Chinese economy and half of the jobs in urban areas, initially experienced a slower recovery than the manufacturing sector.
But this recovery has accelerated with the gradual lifting of health restrictions, including the ban on public gatherings.
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