China's services sector activity expanded at its slowest pace in eight mont...
BEIJING - China’s services sector activity expanded at its slowest pace in eight months in October as new orders slowed and business confidence hit a 15-month low, a private survey showed on Tuesday.
The Caixin/Markit services purchasing managers’ index slipped to 51.1 last month, matching February’s low and edging down from September’s 51.3. It has stayed above the 50-point margin that separates growth from contraction on a monthly basis since late 2005. New orders grew at the slowest pace since February. Labor, raw materials and fuel costs continued to rise at a faster clip than prices charged, indicating more pressure on profit margins.
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