Global PMIs: China services hits 7-month highs

China's services regained some froth in November.

And not only in its coffee shops: across the sector, output accelerated to a seven-month high.

After an upbeat manufacturing survey this week, it restores a touch of optimism over the world's number 2 economy ...

Where Beijing is counting on services to offset the damage done by a trade war with the U.S.

China's 53.2 composite reading - anything above 50 denotes growth - comes amid a slew of PMI numbers from major economies.

Japan's services were more positive too - though a composite reading of 49.8 suggests an economy still in contraction.

And surveys for the euro zone point to continued stagnation: a composite reading of 50.6 unable to disguise a service sector on course for its weakest quarter in five years.

One note of optimism: firms increased their headcount at a faster rate.

And an index measuring demand climbed back to breakeven after two months below it.

UK services have spent three months there.

New orders contracted at the fastest pace since July 2016.

And its composite reading matches a 38-month low.

There was, say analysts, little surprise in those numbers.

Or as to the Brexit and political uncertainty that's seen behind them.

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