China's Private Sector Expands In October

China's private sector expanded at a slightly faster pace in October, survey data from IHS Markit showed Tuesday.

The Caixin composite output index rose to 52.0 in October from 51.9 in September.

A score above 50 indicates expansion in the sector. The score signaled the fastest growth in the sector in six months.

Meanwhile, the services Purchasing Managers' Index fell to 51.1 from 51.3 in September. This marked the slowest increase in services activity for eight months and matched economists' expectations.

China's economy continued to recover in general in October, thanks chiefly to the performance of the manufacturing sector, Zhengsheng Zhong, director of macroeconomic analysis at CEBM Group said. The foundation for economic growth to stabilize still needs to be consolidated.

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