Caixin’s Services PMI Comes in Below Growth Threshold for Third Consecutive Month in November

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The services purchasing managers’ index (PMI) published by Chinese financial news outlet Caixin has come in beneath the threshold for sound health for the third consecutive month.

Caixin’s Services PMI for November came in at 46.7, for a decline of 1.7 points compared to the print for October, as well as the lowest reading since June.

A PMI of more than 50 is considered to indicate growth of the manufacturing sector, while a print beneath 50 implies contraction.