A private gauge of China’s services activity signaled a slowdown in growth for the sector, reports The Wall Street Journal. The RatingDog general services purchasing managers index fell to 52.1 in November from 52.6 in October, marking the lowest level in five months.
The subindex of total new orders remained in expansion in November, but the pace of growth slowed compared with the previous month. New export orders improved last month, benefiting from increased marketing efforts and a temporary trade truce between the US and China.
Service providers continued to cut staffing in November, though the pace of reduction slowed slightly. Companies surveyed by RatingDog remained optimistic about the outlook, but the future business activity expectations index fell to its lowest level since April.