BEIJING, Oct 31 (Reuters) – China’s October companies exercise fell for the primary time since Could, as strict COVID restrictions halted journey and gatherings over the Golden Week vacation interval, hanging a giant blow to consumption.
The official non-manufacturing buying managers’ index (PMI) stood at 48.7 from 50.6 in September, the Nationwide Bureau of Statistics mentioned on Monday.
A studying above the 50-point mark signifies enlargement in exercise whereas a studying beneath signifies contraction.
China’s official composite PMI, which incorporates each manufacturing and companies exercise, stood at 49.0 from 50.9 in September.
Reporting by Liangping Gao and Ryan Woo; Modifying by Sam Holmes
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