China Services Gauge Expands But Growth Slows to Three-Month Low

China’s services activity expanded in October even though growth was the weakest in three months, a private survey showed, as holiday spending and travel by households supported the industry during a deepening economic slowdown.

The RatingDog China services purchasing managers’ index slipped to 52.6 from 52.9 in September, according to a statement published Wednesday, extending a growth streak that started after Covid lockdowns in 2022. The median forecast of economists surveyed by Bloomberg was 52.5, with any reading above 50 indicating an expansion.

The services reading adds to a picture of an industry that’s holding up relatively well despite ...