BEIJING : Activity in China's services sector expanded at a slower pace in November amid rising inflationary pressures and continuing small-scale COVID-19 outbreaks, a private survey showed on Friday.
The readings in the private survey, which focuses more on small firms in coastal regions, tallied with those of an official survey, which also showed the expansion in the services sector lost some steam. China's leisure and tourism businesses have been feeling the heat from the country's zero tolerance COVID-19 strategy to contain infections. The country is currently battling a small-scale outbreak in Inner Mongolia.
A sub-index for new business rose, but at the slowest pace since August. Business expectations improved from the month before, however.
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