Tuesday, 6 November 2012

Services slow in China, US and UK

Some of the major economies saw their services sectors slow in October.

Monday started off with HSBC reporting that its services PMI for China fell to 53.5 in October from 54.3 in September. While slower, the report showed that China's services activity continued to expand last month.

US services also expanded in October, albeit at a slower rate. The Institute for Supply Management's non-manufacturing index fell to 54.2 last month from 55.1 in September.

The UK services sector barely grew in October though. The Markit/CIPS services PMI fell to 50.6 last month from 52.2 in September.

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