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China non-manufacturing PMI at 56% in Nov
December 3, 2013, 4:40 am

China has unveiled its economic blueprint for the next decade after a four-day closed-door meeting ended in November [Getty Images]

China has unveiled its economic blueprint for the next decade after a four-day closed-door meeting ended in November [Getty Images]

The purchasing managers index (PMI) for China’s non-manufacturing sector stood at 56 per cent in November, easing slightly from 56.3 per cent for October, according to official data released on Tuesday.

A PMI reading above 50 percent indicates expansion, while a reading below 50 percent indicates contraction.

The non-manufacturing PMI tracks service, construction, software, aviation, railway transport and real estate among other sectors, according to the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing (CFLP).

China’s manufacturing PMI was 51.4 percent in November, the highest for 19 consecutive months, showed NBS figures on Sunday.

Cai Jin, CFLP vice chairman, said construction and information services are becoming increasingly active, and the non-manufacturing sector is absorbing more labor.

The sub-index for new orders dropped 0.6 percentage points to 51 percent in November. But the sub-index for new export orders gained 0.5 percentage points to 49.9 percent in November.

 

Source: Xinhua