China's services sector stalls on new order decrease

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Source: Reuters
The service sector in China posted its slowest growth in eight months time on the account of new orders, which had their first decrease since 2008. The non-manufacturing PMI slid to 54.0 for the month of September, a four point dip from August. Generally, a score over 50 indicates a growing economy. China's economy is stalled by the abating activity in the real estate market. The slide raised speculations on the mortgage rate cut and its defectiveness to jump-start the economy.
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