The field of services slow down in China, closing the month of September with the weakest growth rate of the last eight months. The official non-manufacturing PMI released this morning is 54 points, down from 54,4 in August.
While remaining above the 50-point threshold, which marks the boundary between growth and contraction, for some analysts the data confirms the fears of those who argue that the Beijing authorities are not doing enough to support the country's economic growth. Significant is the fact that the overall index of orders falls to 49,5 points, weakened by the slowdown in real estate activity.
On October XNUMX, HSBC published the final reading of the September PMI for the electricity sector manufacturing, which was equal to 50,2 points, unchanged compared to August but three tenths lower than the estimates (50,5).
Among the individual components, the dynamics of the item on new export orders is positive - at the most for four and a half years -, while the labor market continues to show weakness.
