BEIJING (Sputnik) — Caixin's closely-watched independent figures showed a rise from October's 52.4 to 53.1 last month, the highest level since July 2015.
The figures, indicating a strong expansion of the services sector, were driven by new company projects and orders, as well as increased hiring, according to the survey.
China's economy is, however, currently experiencing price inflation and Caixin said it found companies' cost expenditures rising more sharply than the level of prices. Next year may therefore see the sector lose steam, according to the experts.
China's National Bureau of Statistics figure for November is 54.7. A PMI reading of over 50.0 points signifies growth, while anything below that reflects contraction.
The services sector has been gaining more weight in China's economy, doubling in size over the past two decades and surpassing the industrial sector in size for the first time in 2013.
China's economy has recently experienced significant turmoil, with growth rates at record lows, an increasingly volatile stock market and the yuan sliding against other currencies. In January, China reported its 2015 GDP increase to be the lowest in over 20 years.
