FXStreet (Mumbai) – The activity in the Chinese services sector unexpectedly slowed in Nov following a sharp pick-up in Oct, the latest figures reported by Caixin showed.
Caixin Services PMI dropped to 51.2 in November; down from October’s three-month high of 52.0, and missed 53.1 reading expected.
As reported by Caixin, “After a solid expansion in October, total new work placed at Chinese service providers rose only slightly in November. According to panellists, relatively weak market conditions had softened client demand in the latest survey period.
Furthermore, September 2015 excepted, the latest increase in new work was the slowest seen in 16 months. Employment at Chinese service providers continued to increase in November.”
(Market News Provided by FXstreet)