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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)
  • ETFs - Stocks: FXI, GXC, PGJ, YAO, FCHI, PEK, CAF, YXI, XPP, FXP, MCHI, YINN, YANG, TCHI, CHXF, KFYP, HAO, ECNS. Bonds: DSUM, CHLC. Currency: CNY, CYB, FXCH
Comments (5)
  • al roman
    , contributor
    Comments (5975) | Send Message
     
    Buy low sell high & bring it on home.
    3 Nov 2013, 10:38 AM Reply Like
  • HPBunker
    , contributor
    Comments (219) | 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 (3501) | 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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