China’s services sector activity falls: official PMI
CHINA’S October services activity fell for the first time since May, as strict Covid-19 restrictions halted travel and gatherings over the Golden Week holiday period, striking a big blow to consumption.
The official non-manufacturing purchasing managers’ index (PMI) stood at 48.7 from 50.6 in September, the National Bureau of Statistics said on Monday.
A reading above the 50-point mark indicates expansion in activity while a reading below indicates contraction. China’s official composite PMI, which includes both manufacturing and services activity, stood at 49.0 from 50.9 in September. REUTERS
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Saudi Arabia hikes oil selling prices for all grades to Asia
Slowing global economy to mean smaller revenue bump in Australian budget
Emerging-market optimism dashed by Fed as currencies, bonds sink
France’s Macron set to press China’s Xi on trade, Ukraine
Israeli Cabinet votes to shut down Al Jazeera’s local operations
Ukraine eases some wartime capital controls for businesses