China official services PMI hits year high

China’s official non-manufacturing Purchasing Manager’s Index grew to 56.3 in October from 55.4 in September, its highest level this year, Bloomberg reported, citing a report published on Sunday by the National Bureau of Statistics. A reading above 50 indicates expansion. HSBC and Markit Economics will release a services PMI for October tomorrow. Their index fell to 52.4 in September from 52.8 in August.