Related News
China's service activity picks up in September
By Wang Yanlin |
October 8, 2012, Monday
|
Online Edition
Online Edition
CHINESE service companies reported an increase in business activity and new orders in September and the growth rate was the fastest since May, an HSBC survey showed today.
The Business Activity Index, a gauge of operating conditions in mainly private and export-oriented service companies, posted 54.3 in September, up from 52 in August, the bank said in a report.
A reading above 50 means expansion.
The latest rise of the index reflected an increased rate of expansion in service sector activity, the report said, noting some survey respondents attributed the growth to improved economic conditions.
"Service sector growth picked up in September thanks to rising new business flows," said Qu Hongbin, chief economist for China at HSBC. "This is likely an indication of a gradual improvement of domestic economic conditions due to the earlier easing measures and the stronger consumption demand in the run-up to the National Day holiday."
But to achieve a meaningful turnaround in domestic demand, additional easing efforts are needed even if policies have helped to cushion the ongoing slowdown of both service and manufacturing sectors, Qu said.
Performance at state-owned service companies seemed less good. The official Non-manufacturing Purchasing Managers' Index, which is weighted towards big state-owned enterprises, lost 2.6 points from a month earlier to 53.7 in August, the National Bureau of Statistics said last week.
The Business Activity Index, a gauge of operating conditions in mainly private and export-oriented service companies, posted 54.3 in September, up from 52 in August, the bank said in a report.
A reading above 50 means expansion.
The latest rise of the index reflected an increased rate of expansion in service sector activity, the report said, noting some survey respondents attributed the growth to improved economic conditions.
"Service sector growth picked up in September thanks to rising new business flows," said Qu Hongbin, chief economist for China at HSBC. "This is likely an indication of a gradual improvement of domestic economic conditions due to the earlier easing measures and the stronger consumption demand in the run-up to the National Day holiday."
But to achieve a meaningful turnaround in domestic demand, additional easing efforts are needed even if policies have helped to cushion the ongoing slowdown of both service and manufacturing sectors, Qu said.
Performance at state-owned service companies seemed less good. The official Non-manufacturing Purchasing Managers' Index, which is weighted towards big state-owned enterprises, lost 2.6 points from a month earlier to 53.7 in August, the National Bureau of Statistics said last week.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
