China’s service sector slips on higher costs, HSBC PMI says

A private survey of China’s growing services sector slipped in October, with weaker-than-expected new orders injecting a note of caution after three previous PMI surveys for October showed the Chinese economy regaining momentum.

The HSBC Purchasing Managers Index for the services sector eased to 53.5 from September’s four-month high of 54.3, as higher costs and greater competition squeezed margins. The index remained above the 50-point level that indicates accelerating growth, reflecting the overall expansion in the services sector as the Chinese economy matures.

via Business feed http://www.scmp.com/business/economy/article/1075202/chinas-service-sector-slips-higher-costs-hsbc-pmi-says