(IHS Markit) China’s Business Activity Index moved from a contraction level of 46.7 in August to an expansion of 53.4 in September, reflecting robust improvements in service businesses.
The mark-up in service business activity was fueled by robust rises in new work and output as cooling domestic Covid-19 cases improved market conditions.
Service sector employment increased marginally but was the strongest since May.
Inflationary pressures persisted, with input and output charges rising at a faster rate than in August.
Foreign demand remained subdued due to the ongoing Covid cases, as the new export business hit a seven-month low.
Sentiment by businesses improved, with expectations rising further into the positive territory despite remaining below the long-term average.
CSI 300 is up +1.31%, USDCNY is up +0.02%.
