China’s Consumers Extend Economic Rebound From Pandemic

4 min read The Wall Street Journal 31 Mar 2023, 06:40 PM IST

Gauge of country’s services sector hits its highest level in more than decade

Customers shop inside a Huawei Technologies Co. retail outlet on the Nanjing Road shopping district in Shanghai, China, on Sunday, July 3, 2016. The yuan headed for a fifth weekly decline, the longest run of losses this year, amid speculation the central bank favors further depreciation as it seeks to revive economic growth. Photographer: Qilai Shen/Bloomberg

A gauge of activity in China’s services sector reached its highest level in more than a decade in March, a sign that Chinese consumers are heading back to stores and restaurants, powering an economic recovery following the end of almost three years of strict Covid-19 controls.