China's Service Sector Growth Slows in October Amid Weak Sales and Confidence
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China's services activity expanded slightly faster in October but at a much slower pace than earlier in 2022.
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Sales growth in services slowed to the weakest rate in 10 months, while employment stagnated.
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Business confidence in the services sector dropped for the fourth straight month to the lowest since March 2020.
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Input cost inflation for services firms eased, though prices charged were raised further.
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The Caixin composite PMI including both manufacturing and services fell to 50.0, the lowest since December 2022.