China’s services activity expanded in October even though growth was the weakest in three months, a private survey showed, as holiday spending and travel by households supported the industry during a deepening economic slowdown.
The RatingDog China services purchasing managers’ index slipped to 52.6 from 52.9 in September, according to a statement published Wednesday, extending a growth streak that started after Covid lockdowns in 2022. The median forecast of economists surveyed by Bloomberg was 52.5, with any reading above 50 indicating an expansion.
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