Economics
China Services Gauges Rebound in Signal of Rebalancing
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China’s service industries strengthened in August, contrasting with declining manufacturing gauges and suggesting a transition away from factory-led growth.
The non-manufacturing Purchasing Managers’ Index advanced to 54.4 from 54.2 in July, the National Bureau of Statistics and China Federation of Logistics and Purchasing said today in Beijing. A separate services gauge from HSBC Holdings Plc and Markit Economics surged to a 17-month high of 54.1, from 50 in July. Readings above 50 for both gauges indicate expansion.