Activity in the Chinese services sector is recovering from the pandemic faster than manufacturing, and rose at the fastest rate in five months during April, according to the results of a Caixin/Markit survey.

The Caixin China services PMI, officially known as the Caixin China General Services Business Activity Index, stood at 56.3 in April, against a 54.3 reading in the previous month. Any reading above 50 reflects growth, while a number below that threshold points to a contraction. According to Caixin, the services sector has been constantly growing for 12 straight months. (RT)