China HS pigment yellow 12 BC services index dips in Oct to 56.5

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China HSBC services index dips in Oct to 56.5Published: 03 Nov 2009 18:33:03 PST<p class="authorInfor"]</p]
BEIJING, Nov 4 - HSBC's China services sector Business ActivityIndex fell to 56.5 in October, a four-month low, from 58.1 in September and a23-month high of 60.6 in August, the firm that compiles the index said onWednesday.</p]
A reading above 50 indicates expansion, while readings below 50 indicate acontraction of activity.</p]
The index, based on a survey of purchasing managers at private servicesfirms, aims to provide a timely snapshot of conditions in the sector, whichaccounts for about 40 percent of the Chinese economy -- much less than in moredeveloped countries.</p]
The survey, conducted by British research firm Markit, showed levels of newbusiness growing at the weakest pace since May but remaining robust, supportedby improved sentiment about the economy alongside new products.</p]
Service providers remained bullish about the one-year outlook, in line withthe trend seen throughout the survey history.</p]
However, the expectations sub-index remained below the historical averagefor the series, suggesting that optimism has still not recovered to pre-crisislevels, Markit said.</p]
The fall in the headline index dragged HSBC's composite output index formanufacturing and services down to 56.9 in October from 57.8 in September.</p]
The dip in the HSBC/Markit services index contrasts with a leap in China'ssemi-official purchasing managers' index for non-manufacturing, released onTuesday, to an 18-month high of 62.1 from 58.9 in September. [ID:nPEK163110] HSBC PMI indexes (seasonally adjusted):</p]
Oct Sep Aug Jul Jun May Apr Mar Services 56.5 58.1 60.6 60.1 56.5 56.4 57.7 55.3 Manufacturing 55.4 55.0 55.1 52.8 51.8 51.2 50.1 44.8 Composite 56.9 57.8 59.4 56.9 54.9 54.1 54.0 48.9</p][url=http://m-giftcash.com/]ク