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Add as a preferred source on GoogleChina Services PMI Slows to 50.8; Composite PMI Stands at 52.0
The services gauge fell from 51.6 in September, marking its weakest expansion since July. Both readings stayed above the 50-point line separating expansion from contraction.
China’s private-sector services activity expanded more slowly in October, as the RatingDog General Services purchasing managers’ index (PMI) fell to 50.8, its weakest reading since July, while the composite gauge stood at 52.0.
The services PMI was down from 51.6 in September and below the 51.5 market estimate. The reading showed that activity was still expanding, but at a slower pace than the previous month.
The composite PMI was 52.0. Both readings were above 50, the level that separates expansion from contraction.