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China Oct official services PMI falls to 52.4 vs 53.2 in Sep

Published 10/30/2021, 09:47 PM
Updated 10/30/2021, 10:00 PM
© Reuters. FILE PHOTO: A woman gets her phone's QR code of the digital payment services scanned at a food shop, following the coronavirus disease (COVID-19) outbreak, in Shanghai, China October 10, 2020. REUTERS/Aly Song

(Corrects month in final paragraph)

BEIJING (Reuters) - Activity in China's services sector grew at a slower pace in October, official data showed on Sunday, as China combats small-scale COVID-19 outbreaks hitting mainly the north.

The official non-manufacturing Purchasing Managers' Index (PMI) fell to 52.4 in October from September's 53.2, data from the National Bureau of Statistics (NBS) showed. The 50-point mark separates growth from contraction on a monthly basis.

Analysts say the services sector, which was slower to recover from the pandemic than manufacturing, is more vulnerable to sporadic COVID-19 outbreaks, clouding the outlook for the much anticipated rebound in consumption in the months to come.

© Reuters. FILE PHOTO: A woman gets her phone's QR code of the digital payment services scanned at a food shop, following the coronavirus disease (COVID-19) outbreak, in Shanghai, China October 10, 2020. REUTERS/Aly Song

The official October composite PMI, which includes both manufacturing and services activity, fell to 50.8 from September's 51.7.

(This story corrects month in final paragraph)

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