HSBC's China services PMI reported a reading of 53.5 for September. In August the reading was 54.1, an eighteen month high. The index had hit its lowest mark for the year so far of 50 in July.
The reading, compiled from 400 private sector companies, is in line with the state-sponsored survey of the non-manufacturing sector, which also showed a slowdown for September. The 'official' survey is larger and includes bigger companies.
China's official non-manufacturing PMI reported a reading of 54 for September, compared to 54.4 in August and marking the fourth month of consecutive contraction. A reading above 50 shows expansion. The index has been slowing since May when it hit a high of 55.5 for the year so far.
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