China's services sector activity expands at faster pace in October

The improved readings in the private survey, focuses more on small firms in coastal regions, stood in contrast to an official survey, which showed the expansion in the services sector lost some steam.

Activity in China's services sector expanded at a faster pace in October, buoyed by robust demand, although rising inflationary pressures weighed on business confidence for the year ahead, a private survey showed on Wednesday.
 

The Caixin/Markit services Purchasing Managers' Index (PMI) rose to 53.8 in October - the highest since July - from 53.4 in September. The 50-point mark separates growth from contraction on a monthly basis.
 

The improved readings in the private survey, which focuses more on small firms in coastal regions, stood in contrast with an official survey, which showed the expansion in the services sector lost some