China services sector expands at fastest pace in four months in May

Activity in China's services sector expanded at the fastest pace in fourth months in May thanks to a surge in new orders, a private business survey showed, helping to offset worries about unexpected weakness in manufacturing. The findings are in sync with an official survey last week which also pointed to accelerated growth and stronger demand in services. The sector accounts for more than half of China's gross domestic product. The new orders sub-index rose to 53.5 in May from April's 53.0, signaling the strongest customer demand since December.

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