The HSBC services PMI survey released on Tuesday showed output in China’s services industry picked up in October, affirming other indications that the economy has stabilized leading up to the Third Plenum in Beijing, Reuters reported. The index rose to 52.6 from September’s 52.4, well above the 50 line that separates expansion from contraction. The survey showed new business growth was at a seven-month high and the business outlook for the next 12 months improved on the previous month, though it was still below trend. The survey’s findings were in line with China’s official services PMI, released on Sunday, which showed a rise to 56.3.
Categories