Mashtab, conducted in the sector of private entrepreneurship, showed that the activity related to the provision of services in China slightly increased in February. According to published data, the index of business activity in the service sector in China rose to 51.4 points in February from 51.1 points in January. This indicates growth in the sector, as the indicator above 50 points distinguishes the expansion of activity from its contraction.
At the same time, the data also indicated that companies were forced to reduce their workforce. The employment index in the service sector decreased to 48.1 points in February from 48.4 points in January. This may indicate that companies still have to struggle with recent limitations imposed in connection with the global pandemic.
One of the respondents noted that despite the improvement in the business activity indicator as a whole, the demand for services remained relatively weak due to instability caused by the pandemic. At the same time, other survey participants expressed optimism regarding the fact that demand will gradually recover as the situation with the pandemic improves.
