China’s services sector activity falls further in Nov – official PMI
9:42 pm Tuesday, November 29th, 2022
BEIJING (Reuters) – China’s services activity contraction deepened in November, official data showed on Wednesday, as already strict COVID-19 restrictions tightened further in some cities due to surging infections and struck a blow to consumption.
The official non-manufacturing purchasing managers’ index (PMI) stood at 46.7 versus 48.7 in October, below the 50-point mark which indicates expansion and contraction in activity on a monthly basis, according to data from the National Bureau of Statistics.
The official composite PMI, which includes both manufacturing and services activity, stood at 47.1 compared to 49.0 in October.
(Reporting by Liangping Gao and Ryan Woo; Editing by Muralikumar Anantharaman)
