Activity in China's service sector continued to moderate in October, with the purchasing managers' index (PMI) for the non-manufacturing sector sliding to its lowest point since January, official statistics showed on November 3.
The non-manufacturing sector PMI posted at 53.8 percent in October, down 0.2 percentage points from September, according to a report jointly released by the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing (CFLP).
The country's official manufacturing PMI also dropped to a five-month low of 50.8 percent in October from 51.1 percent in September, according to data released by the NBS and CFLP on November 1.
However, the readings were still above the 50-percent boom-bust line, which separates expansion from contraction on a monthly basis.
"Although the index pulled back slightly, it is still running smoothly, with some signs of good development demonstrated," said Cai Jin, Vice President of CFLP. |