China’s services sector activity falls further in Nov – official PMI

Reuters

BEIJING (Reuters) – China’s services activity contraction deepened in November, official data showed on Wednesday, as already strict COVID-19 restrictions tightened further in some cities due to surging infections and struck a blow to consumption.

The official non-manufacturing purchasing managers’ index (PMI) stood at 46.7 versus 48.7 in October, below the 50-point mark which indicates expansion and contraction in activity on a monthly basis, according to data from the National Bureau of Statistics.

The official composite PMI, which includes both manufacturing and services activity, stood at 47.1 compared to 49.0 in October.

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(Reporting by Liangping Gao and Ryan Woo; Editing by Muralikumar Anantharaman)

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