China's Service Sector Logs Weaker Growth

China’s service sector logged weaker growth in October, official survey results from the National Bureau of Statistics showed Thursday.

The non-manufacturing Purchasing Managers’ Index came in at 52.8, down from 53.7 in September. Nonetheless, a reading above 50 indicates expansion in the sector. The manufacturing PMI fell to 49.3 in October from 49.8 a month ago. The sector has been contracting since May and the reading was the lowest since last February.

The composite output index that covers manufacturing, services and construction, declined to 52.0 in October from 53.1 in the previous month.

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