HSBC/Markit Services PMI for September, 53.5
- prior was 54.1
HSBC/Markit Composite PMI for September, 52.3
- prior was 52.8
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Hongbin Qu, Chief Economist, China & Co-Head of Asian Economic Research at HSBC said:
- “The headline HSBC China Services PMI moderated to 53.5 from a seventeen-month high of 54.1 in August.
- New business and price indices fell.
- Meanwhile, outstanding business saw a smaller contraction and the employment index improved marginally from the level seen in August.
- Overall, the services sector held up in September, despite the downward pressure seen in the manufacturing sector.
- We think risks to growth in the near term are still on the downside, and warrant accommodative monetary as well as fiscal policies.”
