China’s services industries expand more slowly: HSBC

China’s services industries expanded at a slower pace in November, damping hopes for a faster rebound in the economy after a seven-quarter slowdown.

The purchasing managers’ index fell to 52.1 from 53.5 in October, HSBC Holdings Plc and Markit Economics said. A reading above 50 indicates expansion. That contrasts with a government-backed gauge of services that rose to the highest level in three months in November.

via Business feed http://www.scmp.com/business/economy/article/1097963/chinas-services-industries-expand-more-slowly-hsbc