China's service sector index expands to 16-month high: survey

2016-12-05 02:39:38 GMT2016-12-05 10:39:38(Beijing Time) Xinhua English

BEIJING, Dec. 5 (Xinhua) -- China's service sector continued to expand with its index hitting a 16-month high in November, a private survey showed Monday.

The Caixin China General Services PMI (Purchasing Managers' Index) came in at 53.1 in November, up from 52.4 in October, according to the survey conducted by financial information service provider Markit and sponsored by Caixin Media Co. Ltd.

A reading above 50 indicates expansion, while a reading below 50 represents contraction.