CHINA
<strong>Services PMI outperforms</strong>
Services activity beat expectations last month and jumped to the highest level in nearly a year, a private survey showed in the latest sign that easing COVID-19 outbreaks and restrictions have boosted consumer sentiment. The Caixin Services Purchasing Managers’ Index soared to 54.5 from 41.4 in May, Caixin and S&P Global said in a statement yesterday. That is the highest reading since July last year, and far surpassed the median estimate of 49.6 in a Bloomberg poll of economists. A reading above 50 indicates expansion. Several cities, including Shanghai, scaled back COVID-19 restrictions last month as cases