Growth con­cerns rise as PMI de­clines

China Daily (Canada) - - NEWSCAPSULE -

A gauge of China’s ser­vices in­dus­try fell to a nine-month low in Oc­to­ber, join­ing man­u­fac­tur­ing in sig­nal­ing a broad­en­ing eco­nomic slow­down.

The gov­ern­ment’s non-man­u­fac­tur­ing Pur­chas­ing Man­agers In­dex for the sec­tor fell to 53.8 last month from 54 in Septem­ber. The of­fi­cial man­u­fac­tur­ing PMI re­leased on Satur­day was at 50.8 in Oc­to­ber com­pared with Septem­ber’s 51.1. Read­ings above 50 for both mea­sures in­di­cate ex­pan­sion.

Both PMI gauges are re­leased by the Na­tional Bureau of Statis­tics and China Fed­er­a­tion of Lo­gis­tics and Pur­chas­ing in Beijing.

An­a­lysts sug­gested the lat­est pull­backs in ser­vices and man­u­fac­tur­ing will fur­ther test the gov­ern­ment’s de­ter­mi­na­tion to re­frain from in­creased stim­u­lus. (Photo 4)

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