China non-manufacturing PMI up 1.5%
Print Edition
China’s non-manufacturing purchasing managers’ index rose to 55.4 percent in September from 53.9 percent for August, according to official data released yesterday.
A PMI reading of more than 50 percent indicates expansion in non-manufacturing activity, while a reading below 50 percent indicates contraction.
The index, released by the National Bureau of Statistics and the China Federation of Logistics and Purchasing, reflected strong growth in consumption services represented by retail — thanks to the holiday factor in September. It also showed restructuring policies had boosted demand in the service sector, said Cai Jin, the federation’s vice chairman.
Non-manufacturing PMI covers sectors including service, construction, software, aviation, railways and real estate.
The sub-index for new orders rose to 53.4 percent in September, up 2.5 percent from August. The sub-index for new export orders climbed to 50.5 percent, up 0.9 percent from August.
But the sub-index for employment shrank to 51.3 percent last month, down 1.2 percentage points from August. That for business expectations fell to 60.1 percent in September, down 2.8 percent from August.
The data came after Tuesday’s official release of China’s monthly manufacturing PMI, which set a 17-month high to 51.1 percent in September, from 51 percent in August.
China’s economy climbed 7.7 percent in the first quarter, but slowed to 7.5 percent in the second quarter.
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