China’s PMI Services Industry Rose to 54.8 in April

The service industry in China rose for the month of April based on the official survey on Monday,

There is a strong growth as reflected in the official non-manufacturing Purchasing Managers’ Index (PMI) climbed to 54.8 from 54.6 in March.Both the composite PMI accounted for services and manufacturing activity grew to 54.1 in April compared to 54 in March. A mark of 50 drives apart expansion from contraction.

More than half of the Asian country benefits from the services sector with higher wages giving more spending power to local consumers.