Growth in China's services activity accelerates


China's official non-manufacturing PMI grew at the quickest rate in 13 months in October, rising to 56.3 from 55.4 in September.

The increase adds to an improving manufacturing sector and provides further evidence that China's economy has stabilized.

However, the new orders sub-index dropped to 51.6 from 53.4, while activity in commercial services, the food and drinks industry, and real estate contracted.

"The non-manufacturing sector should continue to develop at a stable rate over the next few months, although there still needs to be more market training and promotion to further release the service sector's potential," the government said.

At a meeting next weekend, China's leaders are expected to unveil reform to strengthen the sector and open it up to foreign competition. (PR)

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Comments (5)
  • al roman
    , contributor
    Comments (17746) | Send Message
     
    Buy low sell high & bring it on home.
    3 Nov 2013, 10:38 AM Reply Like
  • HPBunker
    , contributor
    Comments (217) | Send Message
     
    I'll believe China's self-reported economic data right around the time I can feed imported Chinese cat food to Fluffy without her dropping dead...
    3 Nov 2013, 02:51 PM Reply Like
  • filipo
    , contributor
    Comments (4652) | Send Message
     
    HP,
    I heard some complaints about US CPI reports as well.
    4 Nov 2013, 04:09 AM Reply Like
  • mymoney1
    , contributor
    Comments (3) | Send Message
     
    Well, US made pets food caused more problems just a few months ago. I believe Chinese numbers, and I buy everything made in China--they are cheaper and better.
    4 Nov 2013, 01:46 AM Reply Like
  • Gailun
    , contributor
    Comment (1) | Send Message
     
    China made ​​good quality
    4 Nov 2013, 05:49 AM Reply Like
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