China Oct Services PMI at 3-month high

By FXStreet FXStreet (Bali) – China October Services PMI came in at 52.0 vs 50.5 last, a 3-month high, while the composite stood at 49.9 vs 48.00 last.

Commenting on the China General Services PMI™ data, Dr. He Fan, Chief Economist at Caixin Insight Group said: “Indicators show that previous stimulus policies have begun to take effect, while the economic structure steadily improved. The economy has started to show signs of stabilizing, reducing the need for a further stimulus. The government must be resolute and push forward the reform agenda in a well-rounded manner to release the long-term potential for sustainable economic growth.”
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Source:: FX Street