Mumbai, Nov. 5 -- China's service sector continued to expand at the start of the final quarter of the year, according to latest PMI data. Growth in services activity was supported by a faster rise in overall new business, though export sales fell modestly. Meanwhile, better efficiency led to the first reduction in outstanding business in seven months.
Staffing levels also declined, which was partly due to cost concerns. Despite higher input prices, output charges fell fractionally, while business confidence regarding the year ahead softened.
The headline RatingDog China General Services Business Activity Index fell slightly from 52.9 in September to 52.6 in October. Posting above the 50.0 neutral mark, the latest reading indicated another...