BEIJING, Nov 5 Reuters China39;s services activity expanded at the fastest pace in three months in October, helped by early signs that Beijing39;s big stimulus push was helping improve business conditions, a privatesector survey showed on Tuesday.

The CaixinSP Global services purchasing managers39; index PMI grew to 52.0 in October from 50.3 the previous month. The 50mark separates expansion from contraction on a monthly basis.

That matched the official PMI released last week, which showed nonmanufacturing activity including services and construction broke back into expansion.

China39;s economy grew at the slowest pace since early 2023 in the third quarter, with the crisishit property sector showing few signs of steadying as Beijing races to reach its growth target of this year.

Beijing unleashed monetary stimulus and property sector support measures in September. Soon after, a meeting of top Communist Party leaders, the Politburo, vowed the necessary spending to bring growth back on track.

The survey showed new business increased marginally to 52.1 from 51.0 in September. However, expansion of new business inflows from abroad slipped.

Capacity pressures were seen as new business added to the backlog of work. As a result, service providers raised their employment for a second consecutive month.

Input price growth slowed to a threemonth low, though companies are still grappling with rising material and energy costs.

Overall confidence rose to the highest in five…