China Caixin November services PMI 53.5 vs 51.2 expected
The latest services PMI from Caixin
- Highest since April
- Prior was 51.1
- Composite index 53.2 vs 52.0 prior -- highest since Feb
- Employment 51.0 vs 51.1 prior
That's a sharp, unexpected snap higher in the services PMI. The highest estimate from an economist was 52.1 and this number blew that away.
It's only one month but it's a great sign for the Chinese economy, albeit a tough one to believe.