BEIJING--Activity in China's service sector expanded at a faster pace in October, a private gauge showed Thursday, adding to recent signs of firmness in China's economy.
The Caixin China services purchasing managers' index rose to a four-month high of 52.4 in October from 52.0 in September, Caixin Media Co. and research firm Markit said.
A reading above 50 indicates a month-to-month expansion while a reading below that points to a contraction.
Service providers reported faster growth of new orders and increased their payrolls for the second month in a row, said Markit.
"Overall, the economy continued to expand in October and at a stronger growth rate," said Zhengsheng Zhong, an economist at CEBM Group.
The Caixin China services PMI is based on monthly questionnaires sent to purchasing executives at more than 400 service-sector companies.
China's official nonmanufacturing PMI, which includes the construction sector, edged up to 54.0 in October from 53.7 in September, the National Bureau of Statistics said Tuesday.
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(END) Dow Jones Newswires
November 02, 2016 22:10 ET (02:10 GMT)
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