China’s Economy Continues to Slow

The latest HSBC Purchasing Manager’s Index showed that China’s services sector continued to slow during November recording the slowest rate of growth in the last three months. The index suffered a significant decline to 52.5 from a reading of 54.1 in October.

“With price pressures easing further, Beijing can and should use policies that are targeted on small businesses and service sectors to keep GDP growth at above 8 percent for the coming year,” Qu Hongbin, HSBC’s chief China economist, said in a statement.

Source: Reuters

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