- Analytics
- News and Tools
- Market News
- China's service sector logs robust growth in October
China's service sector logs robust growth in October
RTTNews reports that survey results published by IHS Markit showed that China's service sector expanded strongly in October signaling a sustained recovery from the Covid-19 related drops in activity seen earlier in the year.
Services PMI advanced to 56.8 in October from 54.8 in the previous month. A score above 50 indicates expansion in the sector.
The sector posted its second fastest growth for over a decade, driven by a substantial rise in new work. However, new work from overseas markets declined further due to the resurgence of Covid-19 cases across a number of export markets.
Increased amounts of new work and signs of firmer market conditions led companies to add to their payroll numbers for the third straight month in October.
There was a marked improvement in business confidence in October. The degree of optimism was the strongest since April 2012.
The survey showed that the composite output index that combines the performance of manufacturing and services, rose to 55.7 from 54.5 in September, signaling a sharp and accelerated rise in overall business activity across China.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
