Growth in China's services sector hit a five-month high in August, underpinned by optimism over government policy measures, a private survey showed, the latest evidence that the world's second-largest economy may have avoided a sharp slowdown.
The Markit/HSBC Services Purchasing Managers' Index (PMI) climbed to 52.8 in August, up from July's 51.3 and the highest since March, the survey showed on Wednesday. The data came on the heels of three other PMI surveys this week that pointed to a pick-up in activity at factories and service firms.
Source: Reuters
