China Oct services activity climbs to 3-month high

Beijing

ACTIVITY in China's services sector expanded at its fastest pace in three months in October, thanks to stronger new business, a private survey showed on Wednesday, easing concerns over persistent weakness in the economy as the manufacturing sector falters.

The Caixin/Markit Purchasing Managers' Index (PMI) rose to 52.0 in October from September's 14-month low of 50.5, hitting the highest level since July 2015.