China Caixin/Markit Services PMI for September 53.4 (vs. expected 50.7, prior 46.7)

Privately surveyed non-manufacturing PMI And, for the Composite, comes in at 51.4 (prior 47.2)   Comment on the  Services PMI from MArkit report: The Covid-19 flare-ups in East China's Jiangsu province, which had largely impacted services previously, was contained, contributing to the expansion of activity in the services sector. Both supply and demand in the services sector recovered.  The epidemic overseas weakened service exports. The gauge of new export business fell into negative territory in September, hitting its lowest in seven months The job market for services recovered Input and output prices in the services sector rose.  Input prices rose for the 15th straight month in September and increased at a faster pace than the previous month. That was because of rising labor, freight and raw material costs. Like in the manufacturing sector, rising cost pressure was partly transmitted downstream to consumers as demand was not weak, with the gauge for prices charged returning to expansionary territory.  more to come   -- Earlier PMIs from China for September:

China Caixin/Markit Services PMI for September 53.4 (vs. expected 50.7, prior 46.7)

Privately surveyed non-manufacturing PMI

And, for the Composite, comes in at 51.4 (prior 47.2)  

Comment on the  Services PMI from MArkit report:

  • The Covid-19 flare-ups in East China's Jiangsu province, which had largely impacted services previously, was contained, contributing to the expansion of activity in the services sector.
  • Both supply and demand in the services sector recovered. 
  • The epidemic overseas weakened service exports. The gauge of new export business fell into negative territory in September, hitting its lowest in seven months
  • The job market for services recovered
  • Input and output prices in the services sector rose. 
  • Input prices rose for the 15th straight month in September and increased at a faster pace than the previous month. That was because of rising labor, freight and raw material costs. Like in the manufacturing sector, rising cost pressure was partly transmitted downstream to consumers as demand was not weak, with the gauge for prices charged returning to expansionary territory. 

more to come  

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Earlier PMIs from China for September: