China recovery ‘dented’

Full swing: China’s policy easing and support from local governments have warmed up the nation’s property sector in recent months, with construction and infrastucture activities gaining strength. – AFP

BEIJING: A private survey of China's growing services sector slipped in October, with weaker-than-expected new orders injecting a note of caution after three previous purchasing managers index (PMI) surveys for October showed the world's second largest economy regaining momentum.

The HSBC Purchasing Managers Index for China's services sector released yesterday showed the index slipped to 53.5 in October from September's four-month high of 54.3, as higher costs and greater competition squeezed margins.