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在线翻译:
szdaily -> Business
Caixin survey shows modest growth in services sector
    2017-November-6  08:53    Shenzhen Daily

ACTIVITY picked up slightly in China’s services sector in October but growth remained modest and much weaker than historical trends, a private survey showed Friday.

The findings, along with other private and official business readings last week, are likely to reinforce views that the world’s second-largest economy saw a more subdued start to the fourth quarter after racing ahead earlier in the year.

The Caixin/Markit services purchasing managers’ index (PMI) rose to 51.2 in October, up slightly from September’s 21-month low but suggesting only a subdued expansion in activity and new orders.

A reading above 50 indicates growth, and any lower signals deterioration on a monthly basis. The index had hit a three-month high in August.

An official gauge of the non-manufacturing sector Tuesday showed slower but still relatively solid growth in October.

The Caixin survey tends to focus more on small and mid-sized companies, which have tended to be under greater strain than their larger, State-owned peers.

One positive takeaway from the Caixin survey suggested smaller firms may be regaining some pricing power.

While their input costs for raw material, fuel and labor continued to rise, service providers were able to raise their prices at the quickest pace in over two years, protecting profit margins but also pointing to building inflationary pressures.

Reflecting the growing drag on manufacturing output, Caixin’s composite manufacturing and services PMI for October fell 0.4 points to 51.0 in October, the lowest since June 2016.

“The Caixin PMIs for October showed that the economy had a relatively weak start to the fourth quarter. However, monetary policy is unlikely to be loosened unless major downside risks emerge,” Zhong Zhengsheng, director of macroeconomic analysis at CEBM Group, said in a note accompanying the survey.

(SD-Agencies)

 

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