Chinese service sector growth buoys hope of recovery

City A.M. Reporter
China’s service sector expanded at its fastest pace in four months in December, raising hopes of an economic revival in the world’s second-largest economy.

The official purchasing managers’ index for the non-manufacturing sector rose to 65.1 in December from 55.6 in November, according to the National Bureau of Statistics.

A reading above 50 indicates growth, while one below indicates contraction.

A jump in construction services drove the rise, up to 61.9 last month from 61.3 in November.