China’s services sector grew at its slowest pace in seven months in September despite a strong increase in new orders, a private survey showed on Tuesday. The Caixin/Markit services purchasing managers’ index (PMI) fell to 51.3 last month, the weakest since February, following August’s 52.1 reading. The guage, however, held above 50, indicating expansion. The Composite PMI picked up from 51.6 in August to 51.9 in September, to signal the strongest rate of growth since April. The data seems to have put a bid under the AUD. The AUD/USD pair has added 10 pips to hit a high of 0.6740. Key points (Source: Reuters, Markiteconomics.com) New orders for services in September grew at the fastest pace since January 2018 Operating costs hit a one-year high because of an increase in labor, fuel and raw material expenses. The volume of new work from abroad received increased for the third straight month in September. Services firms added jobs at the fastest pace since January 2017. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next AUD/USD clings to modest gains, just below mid-0.6700s post-Chinese PMI FX Street 3 years China's services sector grew at its slowest pace in seven months in September despite a strong increase in new orders, a private survey showed on Tuesday. The Caixin/Markit services purchasing managers' index (PMI) fell to 51.3 last month, the weakest since February, following August's 52.1 reading. The guage, however, held above 50, indicating expansion. The Composite PMI picked up from 51.6 in August to 51.9 in September, to signal the strongest rate of growth since April. The data seems to have put a bid under the AUD. The AUD/USD pair has added 10 pips to hit a high of… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
