Service Sector Growth Slows

Survey results show that business activity in China’s services sector grew at its slowest pace in nearly two years in September. The Caixin/Markit services purchasing managers’ index (PMI) fell to 50.6 in September, which is one of the weakest results since the survey began in 2005. A reading above 50 indicates growth, while below 50 indicates contraction. Further, the survey results show that the services sector continued to see far less inflation than the manufacturing industry.

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