China's Services PMI fell to 50.6

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Monday, Oct 09 2017

China's Services PMI fell to 50.6

The Caixin China Composite PMI™ data (which covers both manufacturing and services) signalled a weaker expansion in total Chinese business activity at the end of the third quarter. Notably, the Composite Output Index fell from 52.4 in August to a three-month low of 51.4 in September. The slowdown was driven by weaker increases in output at both manufacturing and services companies. A drop in the seasonally adjusted Caixin China General Services Business Activity Index from 52.7 to 50.6 in September pointed to only a marginal increase in services activity that was the slowest for 21 months.

At the same time, growth in manufacturing production edged down to a three-month low. Weaker expansions in activity coincided with a slowdown in new order growth across both monitored sectors. While manufacturers signalled the softest increase in new business for three months, service providers saw only a modest upturn in new order books. A number of companies mentioned that relatively subdued client demand had weighed on sales at the end of the third quarter. As a result, composite new work increased at the weakest pace since June.

More in this category: « US Unemployment Rate fell to 4.2% German Industrial Production up by 2.6% »

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