(Markit) Output among service providers in China increased in the last month of 2021, with the activity index reaching 53.1 from 52.1 in November.
Output in the service sector has now risen for the fourth straight month, reflecting improved market conditions, releases of new products, and higher sales.
New businesses rose for the fourth straight month, quickening from November’s three-month low. Foreign demand for new orders also increased at a similar rate to those of the prior two months.
Employment among service businesses expanded for the fourth consecutive month, with the rate the quickest since May, although the pace was mild.
Backlogs increased for the fifth time in six months, with the pace the quickest since February 2020 but was modest.
Input costs accelerated, despite easing from November, with higher prices connected to material constraints and staffing issues.
Business confidence among service providers edged to the lowest in 15 months on concerns of the longevity of the pandemic.
CSI 300 is down -1.02%, USDCNY is up +0.19%.
