China Services PMI Ebbs In October - Caixin
(RTTNews) - The services sector in China continued to expand in October, albeit at a slower pace, the latest survey from S&P Global revealed on Wednesday with a business PMI score of 50.8.
That's down from 51.6 in September, although it remains well above the boom-or-bust line of 50 that separates expansion from contraction.
Operational constraints reportedly contributed to the latest slowdown in services activity growth in October, as new business inflows continued to rise at a solid pace despite easing slightly since September. Where sales increased, service providers often mentioned a widening of customer bases and successful business promotion efforts as reasons.
New export business also expanded in October to support the increase in overall new sales. That said, the rate at which new business from abroad rose softened from September and was modest overall.
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