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China’s Service Activity Eases to a Lower Expansion in Nov. as Virus Concerns Linger

December 3, 2021 by Forex Winner Leave a Comment

China’s Service Activity Eases to a Lower Expansion in Nov. as Virus Concerns Linger

Source: Caixin 

China’s Business Activity Index was 52.1 in November, indicating a softer level of expansion compared to 53.8 in October. CSI 300 is up +0.92%, USDCNY is down -0.08%.

China General Services Business Activity Index
  • The slow growth in business activity reflects fresh virus concerns that impact sales.
  • Growth of new orders remained muted while new businesses increased at the lowest pace in three months.
  • Business hiring rose the quickest since May as firms added workers in anticipation of an uptick in activity.
  • Input prices increased for the seventeenth month, with rising costs of materials, labor, and energy. The inflation rate was at a six-month high, while services output charges softened. 
  • Chinese service firms retained a positive outlook over the next year, expecting that the virus will be contained.

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