China’s services activity expanded at second fastest pace in a decade in Oct, hiring picks up, shows private survey
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China’s services activity expanded at second fastest pace in a decade in Oct, hiring picks up, shows private survey
STOCKS

China’s services activity expanded at second fastest pace in a decade in Oct, hiring picks up, shows private survey

 

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Activity in China’s services sector expanded at the second fastest pace in a decade in October as the economy continued its strong recovery from the coronavirus outbreak earlier this year, a private survey showed on Wednesday.

The Caixin/Markit services purchasing managers’ index (PMI), increased to 56.8 in October from 54.8 a month earlier. A reading above 50 indicates expansion, while a reading below the mark represents a contraction.

October’s reading was higher than the median estimate of 55 expected by analysts in a Bloomberg survey and was the second highest . . .

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