Chinese service sector maintains growth, struggles with headwind

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Activity in the Chinese service sector increased slightly in October, after industry was growing again earlier this week. This was shown on Wednesday by figures from Markit.

The Purchasing Managers Index that measures the activity of the country’s services sector was 53.8 in October, compared to 53.4 in September.

On Monday it was announced that the Purchasing Managers Index for the industry rose from 50.0 in September to 50.6 in October.

The composite index was 51.5 compared to 51.4 in September.

An index position greater than 50 indicates growth, while less than 50 means contraction.

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