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CN Nov Caixin Service PMI Drops to 51.5, Missing Forecast
Recommend 4 Positive 7 Negative 4 |
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Supply and demand in service sector in mainland China expanded at a slower pace in November, with employment expanding steadily and price levels falling narrowly. According to Caixin.com, the Caixin China General Services Business Activity Index (service PMI) dropped to 51.5 in November from the previous value of 52, and was weaker than the market's expectation of rising to 52.4, which was still above the critical point, indicating that the rate of expansion of business activities in the service sector slackened faintly. Earlier released November Caixin Manufacturing PMI added 1.2 ppts to 51.5, having been in the expansionary territory for two straight months. The Caixin Composite Manufacturing PMI hiked to 52.3 from 51.9, logging a record high since July. Recent data released by the National Bureau of Statistics (NBS) showed that the manufacturing PMI edged up by 0.2 ppts to 50.3 in November, while the service PMI remained flat at 50.1. The Composite PMI Output Index remained stayed put at 50.8. AAStocks Financial News |
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