China’s services sector activity slows in Sept – official PMI
China’s services activity expanded at a slower pace in September, an official survey showed on Friday, as COVID-19 curbs in populous cities weighed on consumption.
The official non-manufacturing purchasing managers’ index (PMI) dropped to 50.6 in September from 52.6 in August, data from the National Bureau of Statistics showed.
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 50.9, compared with 51.7 in August.