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China's service sector activity expands in March after virus shock - official PMI

Reuters
·1-min read

BEIJING (Reuters) - China's services activity expanded in March after slumping to a record low the previous month, but business is expected to take some time to return to normal as the economy struggles to recover from the coronavirus shock.

The official non-manufacturing Purchasing Managers' Index (PMI) rose to 52.3, after plunging to 29.6 in February, the National Bureau of Statistics said on Tuesday. The 50-point mark separates growth from contraction on a monthly basis.

The coronavirus outbreak and strict measures to contain it saw many parts of the country locked down, severely disrupting the manufacturing and services sectors. Shops, restaurants and transport-related businesses saw a slump in sales due to quarantine measures and travel restrictions.

The official January composite PMI, which includes both manufacturing and services activity, rose to 53 from February's 28.9.

(Reporting by Lusha Zhang and Ryan Woo; Editing by Kim Coghill)