China: Declining Services Sector PMI, From 53.2 In September To 52.4 In October

October 31, 2021

Activity in China's services sector grew at a slower pace in October, official data showed on Sunday, as China combats small-scale COVID-19 outbreaks hitting mainly the north.

The official non-manufacturing Purchasing Managers' Index (PMI) fell to 52.4 in October from September's 53.2, data from the National Bureau of Statistics (NBS) showed. The 50-point mark separates growth from contraction on a monthly basis.

Analysts say the services sector, which was slower to recover from the pandemic than manufacturing, is more vulnerable to sporadic COVID-19 outbreaks, clouding the outlook for the much-anticipated rebound in consumption in the months to come.

The official October composite PMI, which includes both manufacturing and services activity, fell to 50.8 from September's 51.7.

SOURCE: REUTERS
IMAGE SOURCE: PIXABAY