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China official services PMI rises to 53.7 for September
October 1, 2016 / 1:16 AM / a year ago

China official services PMI rises to 53.7 for September

BEIJING (Reuters) - Activity in China’s services industry expanded in September at a slightly faster pace than the previous month, an official survey showed on Saturday.

A worker verifies a product at a steel factory in Dalian, Liaoning province, China September 1, 2016. China Daily/via REUTERS

The official non-manufacturing Purchasing Managers’ Index CNPMIN=ECI(PMI) stood at 53.7 in September, compared to the previous month’s reading of 53.5. The 50-point mark that separates growth from contraction on a monthly basis.

China is counting on growth in services to offset persistent weakness in manufacturing and exports that is dragging on the world’s second-largest economy.

Reporting by Ben Blanchard; Editing by Richard Borsuk

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