- Analytics
- News and Tools
- Market News
- China's Caixin Services PMI improves to 50.4 in October vs. 50.2 prior
China's Caixin Services PMI improves to 50.4 in October vs. 50.2 prior
China's Services Purchasing Managers' Index (PMI) rose to 50.4 in October, compared to 50.4 in September, the latest data published by Caixin showed on Friday.
Key points
Business activity increases only slightly.
Sales expand at softest rate in ten months.
Employment stagnates as business confidence wanes.
Commenting on the China General Services PMI ™ data, Dr. Wang Zhe, Senior Economist at Caixin Insight Group said: “The Caixin China General Composite PMI for October was 50, down 0.9 of a point from the previous month and once again hitting the lowest reading this year. Demand expanded slightly, but the gauge for total new orders recorded the lowest reading this year.”
“Employment contracted for the second consecutive month, backlogs of work built up, and market confidence weakened again, although input and output prices remained relatively stable,” Wang added.
AUD/USD reaction to China’s Services PMI
Strong Chinese Services PMI fails to inspire the Aussie Dollar, keeping AUD/USD in the red near 0.6430, down 0.08% on the day, at the time of writing.
© 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
