China Services Grow at Fastest Pace Since July

China’s services sector grew at the strongest pace in four months in October as new business picked up, encouraging companies to hire more workers, a private survey showed.

The figures were first reported by Chinese financial news outlet Caixin on its website at 0900 Beijing time. That was ahead of a scheduled embargo time of 0945.

The findings, along with upbeat official factory and services readings earlier this week, add to the view that the world’s second-largest economy is on a steadier footing.

Reuters

BoE Super Thursday Preview (Video)

USD/MXN Mexican Peso Under Pressure as Trump Rises in Polls

Clinton and Trump Attack Each Others Character

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.