UH OH: CHINA SERVICE SECTOR SLUMPS – Reuters’s Lucy Hornby in Beijing: “China's normally robust services sector weakened sharply in September to its lowest point since November 2010,
as slow growth in manufacturing finally began to feed through to the
rest of the economy, an official survey showed on Wednesday. The
official … PMI for the sector fell to 53.7 in September from 56.3 in
August, weighed by weakened construction services and transport as well
as lackluster new orders overall, according to the latest survey from
the National Bureau of Statistics. The services index follows official
and private sector PMI surveys of China's vast manufacturing industry
that showed growth stabilizing at a slower pace, almost certainly
signaling a seventh straight quarter of slowing economic growth in the
world's second-largest economy”
China services PMI falls to lowest in nearly two years
| Reuters
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