China Services Activity Remains Sluggish, Caixin PMI Shows

Activity in China’s services sector expanded marginally faster in October than the previous month, but was still at the second-weakest pace this year, as growth in new orders softened amid weaker business confidence, a Caixin-sponsored survey showed Friday.

The Caixin China General Services Business Activity Index, which provides an independent snapshot of operating conditions in sectors such as retail and tourism, rose to 50.4 from 50.2 in September. A reading above 50 indicates an expansion in activity, while a number below that signals a contraction.