China October Non-Manufacturing PMI 53.8

The video discusses the decline in China's services PMI to 53.8, the lowest since January, indicating a slowdown in economic growth despite relaxed property curbs. The manufacturing PMI is also covered, with the official PMI at 50.8, the lowest since May, and the HSBC PMI expected soon. Both PMIs show a slowing pace, affecting the growth target of 7.5% for the year.

What does a PMI reading above 50 indicate, and what was the significance of the services PMI reading of 53.8?

What are the implications of the slowing new orders and expectations for the Chinese economy as discussed in the text?