💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

China's services sector activity falls - official PMI

Published 10/30/2022, 09:47 PM
Updated 10/30/2022, 09:52 PM
© Reuters. FILE PHOTO: A waiter cleans the floor of a restaurant after closing hours in Beijing, China October 28, 2019. Picture taken October 28, 2019. REUTERS/Thomas Peter

BEIJING (Reuters) - China's October services activity fell for the first time since May, as strict COVID restrictions halted travel and gatherings over the Golden Week holiday period, striking a big blow to consumption.

The official non-manufacturing purchasing managers' index (PMI) stood at 48.7 from 50.6 in September, the National Bureau of Statistics said on Monday.

© Reuters. FILE PHOTO: A waiter cleans the floor of a restaurant after closing hours in Beijing, China October 28, 2019. Picture taken October 28, 2019. REUTERS/Thomas Peter

A reading above the 50-point mark indicates expansion in activity while a reading below indicates contraction.

China's official composite PMI, which includes both manufacturing and services activity, stood at 49.0 from 50.9 in September.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.