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China's non-manufacturing sector growth continues decline in June
Source: Xinhua |
July 3, 2011, Sunday
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GROWTH of China's non-manufacturing sector continued a slowdown in June, with a decline of the Purchasing Managers Index (PMI) for the sector, the China Federation of Logistics and Purchasing (CFLP) said today.
As a key economic leading indicator, the PMI of non-manufacturing sector fell to 57 percent in June from 61.9-percent increase in May, CFLP said.
A reading above 50 percent indicates expansion while below 50 percent indicates contraction.
Although the June index marked the second consecutive month of growth decline, the figures indicated China's non-manufacturing sector maintained a relatively fast expansion, it said in an email to Xinhua.
The PMI for non-manufacturing sector was 62.5 percent in April, 60.2 percent in March, 44.1 percent in February and 56.4 percent in January.
All major sub-indices fell with the index for new orders down 3 percentage points from May to 53.5 percent in June from while that for intermediate input prices declined to 61.6 percent.
As a key economic leading indicator, the PMI of non-manufacturing sector fell to 57 percent in June from 61.9-percent increase in May, CFLP said.
A reading above 50 percent indicates expansion while below 50 percent indicates contraction.
Although the June index marked the second consecutive month of growth decline, the figures indicated China's non-manufacturing sector maintained a relatively fast expansion, it said in an email to Xinhua.
The PMI for non-manufacturing sector was 62.5 percent in April, 60.2 percent in March, 44.1 percent in February and 56.4 percent in January.
All major sub-indices fell with the index for new orders down 3 percentage points from May to 53.5 percent in June from while that for intermediate input prices declined to 61.6 percent.
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