China HSBC services PMI ticks up in October

|By:, SA News Editor

China October HSBC Services PMI: 52.6 versus 52.4 previous.

The read on the non-manufacturing sector "should help cement China's growth momentum in the coming months," HSBC economist Qu Hongbin says.

Although the generally upbeat tone of the report is consistent with the October read for the country's official non-manufacturing PMI, the two reports paint a different picture with regard to the new orders sub-index.

The HSBC report has new order growth "accelerating to a seven-month high," while the official report had the index dropping to 51.6 from 53.4 in September.

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