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Sri Lanka Equity Forum » Stock Market News » China Caixin Services PMI picks up in October

China Caixin Services PMI picks up in October

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1 China Caixin Services PMI picks up in October on Wed Nov 04, 2015 1:02 pm

peacockman


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
China Caixin Services PMI picks up in October
Published: Nov 4, 2015 1:09 a.m. ET




BEIJING--A private gauge of China's service activity expanded at a faster pace in October, indicating that Beijing's stimulus measures may have taken effect.

The reading, released Wednesday, painted a mixed picture for China's service sector as the private gauge contrasted with an official indicator published by the government over the weekend.

The Caixin China services purchasing managers' index rose to 52.0 in October, up from September's 14-month low of 50.5, Caixin Media Co. and research firm Markit said.



A reading above 50 indicates month-to-month expansion while a level below that points to contraction.

"This shows that previous stimulus policies have begun to take effect, while the economic structure steadily improved," said He Fan, chief economist at Caixin Insight Group.

"The economy has started to show signs of stabilizing, reducing the need for a further stimulus," said Mr. He, adding that the government needs to push forward its reform agenda to release the long-term potential for sustainable economic growth.................................................



see more at : http://www.marketwatch.com/story/china-caixin-services-pmi-picks-up-in-october-2015-11-04

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