China's Caixin PMI for Services Rebounded to Five-Month High in November
Tang Shihua
/SOURCE : yicai

(Yicai Global) Dec. 5 -- China's Caixin Purchasing Managers' Index for services recovered from earlier lows last month to reach its highest peak in five months.

The index rose to 53.8 during the one-month period, up 3.0 points. A number below 50 implies contraction and above 50 expansion. 

In November, the Caixin Comprehensive PMI Index also rose to 51.9 from the earlier month's 50.5. In October, the index was at its 28-month lowest point. 

The rebound shows that the overall economic growth momentum in China has improved, said Zhong Zhengsheng, the chief economist of CEBM Group, which is a unit of Caixin Insight Group that runs the related index. 

The Caixin Index, also known as the Caixin-Markit index, sends out surveys to 600 small and medium-sized companies and measures their performance and business confidence. 

Editor: Emmi Laine 

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