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China's non-manufacturing activity edges down to 53.1% in October
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CHINA'S non-manufacturing activity contracted in October as business growth in the wholesale, capital market and repairing sectors slowed due to the week-long National Day holiday from Oct. 1, an official monthly survey showed Sunday.
The purchasing managers' index (PMI) for the non-manufacturing sector stayed at 53.1 in October, 0.3 percentage point down from September, according to a report released jointly by the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing.
A reading above 50 indicates expansion, while a reading below 50 represents contraction.
Businesses including accommodation, retails, logistics, tourism and transport posted fast growth this month driven by spending spree in the National Day holiday.
Non-manufacturing PMI tracks business activities of the service and construction industries.
The sub-index for service industry decreased to 52.3 from 53 in September.
Meanwhile, the sub-index for the construction industry increased 1.9 percentage points from September to 57.1, suggesting accelerated growth in construction activity.
The new order sub-index in October rose to 51.2 from 50.2 in September, after it rebounded back to expansion territory from 49.6 in August.
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