Caixin’s services PMI in China fell in November, the official tide, as the latest wave of pandemics hit demand and shut down service providers.
The services PMI slowed to 52.1 points in November from 53.8 points in October, according to Caixin Media and IHS Markit.
The result is in line with the formal non-manufacturing PMI, which includes both services and construction activity, as the recent resurgence of cases has hit demand amid austerity measures and ongoing health concerns.
Overall new businesses grew at the slowest pace in three months and grew only marginally, with companies saying measures to curb the coronavirus had hit the influx of new orders, Caixin said.
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Source From: Capital
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