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China HSBC China Services PMI eases from August's peak

FXStreet (Bali) - China HSBC China Services PMI came at 53.5 from previous 54.1, with HSBC noting that activity growth eased from August’s recent peak but remained solid overall.

Commenting on the China Services and Composite PMI, Hongbin Qu, Chief Economist, China & Co-Head of Asian Economic Research at HSBC said: “New business and price indices fell. Meanwhile, outstanding business saw a smaller contraction and the employment index improved marginally from the level seen in August. Overall, the services sector held up in September, despite the downward pressure seen in the manufacturing sector. We think risks to growth in the near term are still on the downside, and warrant accommodative monetary as well as fiscal policies."

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