Ser­vice sec­tor growth hit by slug­gish de­mands

China Daily (USA) - - NEWS CAPSULE -

China’s ser­vice sec­tor in Oc­to­ber reg­is­tered its slow­est growth in 13 months, as en­ter­prises faced slug­gish de­mand on new or­ders amid eco­nomic down­ward pres­sure.

The Caixin Ser­vices Pur­chas­ing Man­agers’ In­dex reg­is­tered 50.8 points in Oc­to­ber, down from 53.1 points in Septem­ber, the low­est read­ing in 13 months, data showed on Mon­day.

The sub in­dex for new or­ders slowed to 50.1 in the pre­vi­ous month, down from 52.4 in Septem­ber.

The gov­ern­ment has pledged to step up sup­port to boost the pri­vate sec­tor by rolling out more tax cut mea­sures and al­le­vi­at­ing liq­uid­ity pres­sure of the pri­vate sec­tor that plays a key role in over­all eco­nomic growth.

Newspapers in English

Newspapers from China

© PressReader. All rights reserved.