activity in services at the lowest level in a year

Activity in services fell sharply in China in October, falling to its lowest level in over a year, according to an independent index released Monday by the media group Caixin. The sector's Purchasing Managers Index (PMI), calculated by IHS Markit, fell last month to 50.8 from 53.1 in September, its lowest level since September 2017.

Analysts surveyed by the Bloomberg financial agency had forecast a much smaller decline, to 52.8. A figure above 50 indicates an expansion of activity, and below a contraction. While activity in services has thus continued to grow very marginally, this index, based on a survey of companies, confirms the slowdown in activity as China faces trade sanctions from the Member States. -United.