China’s services sector activity contracts less sharply in May – official PMI
2022.05.31 04:51
FILE PHOTO: A woman walks past chefs working in a kitchen of a restaurant at a shopping mall in Beijing, China December 15, 2020. REUTERS/Thomas Peter
BEIJING (Reuters) – China’s services activity shrank less sharply in May, an official survey showed on Tuesday, as COVID-19 restrictions in some cities were relaxed.
The official non-manufacturing Purchasing Managers’ Index (PMI) rose to 47.8 in May, from 41.9 in April, data from the National Bureau of Statistics showed.
A reading above the 50-point mark indicates expansion in activity while a reading below indicates contraction.
Even with an easing in COVID-19 curbs across China, consumers likely avoided shopping and dining out due to fears of contracting COVID-19 and potentially being quarantined.
China’s official composite PMI, which includes both manufacturing and services activity, stood at 48.4, compared with 42.7 in April.
