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China official services PMI rises to 53.7 for September

Reuters

BEIJING (Reuters) - Activity in China's services industry expanded in September at a slightly faster pace than the previous month, an official survey showed on Saturday.

The official non-manufacturing Purchasing Managers' Index (CNPMIN=ECI)(PMI) stood at 53.7 in September, compared to the previous month's reading of 53.5. The 50-point mark that separates growth from contraction on a monthly basis.

China is counting on growth in services to offset persistent weakness in manufacturing and exports that is dragging on the world's second-largest economy.

(Reporting by Ben Blanchard; Editing by Richard Borsuk)