China October Services Sector Growth Slips to Eight-Month Low: Caixin PMI

China October Services Sector Growth Slips to Eight-Month Low: Caixin PMI
The skyline of Beijing's central business district on a sunny day, in China, on Sept. 7, 2018. Jason Lee/Reuters
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BEIJING—China’s services sector activity expanded at its slowest pace in eight months in October as new orders slowed and business confidence hit a 15-month low, a private survey showed on Nov. 5.

Beijing has been counting on the services sector, which accounts for more than half of China’s economy, to partly offset sluggish domestic and global demand for manufactured products as a prolonged trade war with the United States drags on.