BEIJING — China's services activity expanded at the fastest pace in three months in October, helped by early signs that Beijing's big stimulus push was helping improve business conditions, a private-sector survey showed on Tuesday.
BEIJING — China's services activity expanded at the fastest pace in three months in October, helped by early signs that Beijing's big stimulus push was helping improve business conditions, a private-sector survey showed on Tuesday.The Caixin/S&P Global services purchasing managers' index grew to 52.0 in October from 50.3 the previous month. The 50-mark separates expansion from contraction on a monthly basis.
The survey showed new business increased marginally to 52.1 from 51.0 in September. However, expansion of new business inflows from abroad slipped.Capacity pressures were seen as new business added to the backlog of work. As a result, service providers raised their employment for a second consecutive month.Input price growth slowed to a three-month low, though companies are still grappling with rising material and energy costs.
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