- 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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Growth in China's services activity accelerates
Nov 3 2013, 01:26 ET