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China Private Sector Growth At 3-Month Low

China's private sector expanded at the weakest pace in three months in September, survey data from IHS Markit showed Monday.

The Caixin composite output index fell to 51.4 in September from 52.4 in August. However, any reading above 50 indicates expansion in the sector.

The slowdown was driven by weaker increases in output at both manufacturing and services companies.

The seasonally adjusted General Services Business activity index declined to 50.6 in September from 52.7 in August.

Moreover, this signaled a marginal increase in services activity that was the slowest for 21 months.

At the same time, growth in manufacturing production edged down to a three-month low.

"The expansion in both manufacturing and services cooled in September, suggesting downward pressure on economic growth may re-emerge in the fourth quarter," Dr. Zhengsheng Zhong, Director of Macroeconomic Analysis at CEBM Group said.

by RTT Staff Writer

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