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China’s Service Sector Slows in Latest Economic Warning Sign
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HONG KONG—Chinese economic activity remained feeble in September, with the services sector slipping into contraction, offering fresh evidence of the damage that Beijing’s Covid-prevention measures and a deepening real estate slide are inflicting on the country’s economy.
Activity in the service sector, which includes the retail, catering and transport industries, were hammered as authorities across China tightened Covid-19 restrictions ahead of a key political gathering in October.
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