Thursday, 30 Apr 2020 09:28 AM MYTBEIJING, April 30 — China's services activity expanded at a faster pace in April, but business is expected to take some time to fully recover due to the lingering impact from the coronavirus crisis at home and globally.
The official non-manufacturing Purchasing Managers' Index rose to 53.2, from 52.3 in March, the National Bureau of Statistics said on Thursday. The 50-point mark separates growth from contraction on a monthly basis. Beijing is counting on a bounce in services sector to help revive its economy ravaged by the pandemic. But analysts caution that the recovery will be constrained by weak consumption and sliding global demand as many economies are brought to a standstill by lockdowns to contain the virus.
The official April composite PMI, which includes both manufacturing and services activity, rose to 53.4 from March's 53. — Reuters
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