Measures of service-sector activity in China showed a marginal improvement in November, The Wall Street Journal reported. According to data released on Wednesday, China’s official non-manufacturing purchasing managers’ index rose to 53.9 in November from 53.8 in the previous month, and the HSBC China Services PMI increased from to 53.0 from 52.9. In contrast, HSBC’s chief economist for China, Qu Hongbin, described the manufacturing sectors as continuing to experience “sluggish activity”. Although the November cut in benchmark interest rates by the People’s Bank of China is expected to stabilize demand in the short term, Hongbin said in a statement that downside pressures still persist.
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