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
US: GameStop surges as Dow winning streak ends
Melinda Gates to step down as co-chair of Bill & Melinda Gates Foundation
Fed should hold rates until inflation eases: vice-chair Jefferson
IMF staff, Argentina reach agreement on latest review of US$44 billion programme
Saudi wealth fund said to invite bank pitches for Nupco IPO
Thailand confirms date for Senate election