Activity in China's service sector expanded at a faster pace in December, a private gauge showed Thursday, the latest indication of strength in the sector following official data released last week.
The Caixin China services purchasing managers' index rose sharply to 53.9 in December from 51.9 in November, Caixin Media Co. and research firm Markit said. The result was the highest since August 2014.
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A reading above 50 indicates an expansion in activity from the previous month while a level below that points to a contraction.
"Although China's economic growth remains under downward pressure, it is still resilient. However, special attention should be paid to whether future policies will become tighter than expected," said Zhengsheng Zhong, director of Macroeconomic Analysis.
China's official nonmanufacturing PMI, which includes the construction sector, rose to 55.0 in December from 54.8 in November, the National Bureau of Statistics said last week.
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(END) Dow Jones Newswires
January 03, 2018 21:11 ET (02:11 GMT)