China Services PMI Climbs To 56.8 – Caixin

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The services sector in China continued to expand in October, and at a faster rate, the latest survey from Caixin revealed on Wednesday with a services PMI score of 56.8.

That’s up from 54.8 in September and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

Individually, business activity expanded at the second-sharpest rate since August 2010, while total new order growth accelerated despite a further dip in export sales.

Business confidence improved to its highest level since April 2012.

The survey also showed that its composite index rose to 55.7 from 54.5 in the previous month.

The material has been provided by InstaForex Company – www.instaforex.com

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