Non-industrial activities surge on robust demand
By Wang Yanlin |
January 5, 2012, Thursday
|
Print Edition
Print Edition
CHINA'S non-manufacturing activities expanded in December after rebounding strongly due to growing demand in the run-up to New Year and the Spring Festival later in the month.
The official non-manufacturing Purchasing Managers' Index, an indicator of vitality in service industries, rose to 56 in December from November's 49.7, the China Federation of Logistics and Purchasing said yesterday.
A reading above 50 signals growth while that below 50 points to contraction. The rise in December occurred following a two-month contraction.
"China's service activities returned to expansion after a brief period of contraction," said Cai Jin, vice president of the federation. "It indicated a stabilizing economy, and growing demand prior to a festive-laden January."
Cai added that further reform and a more favorable taxation policy will promote a stable development of the service industry and consumer demand.
The federation's report, based on a survey of about 1,200 companies in 20 non-manufacturing industries like transport, retail and catering, said the robust business of retailers and restaurants was the driving force shoring up the service PMI in December.
It also added that logistics was active amid increased online shopping during the pre-holiday season.
The component indices showed that consumer services rose 9.1 points from a month earlier to 55.1 in December, and new orders gained 5.9 points from November to 50.8.
The index for business activities and new orders in the retail sector both climbed to above 70, the federation said.
But the real estate sector remained flat in December as the index for its business activities finished at 44.3.
The official non-manufacturing Purchasing Managers' Index, an indicator of vitality in service industries, rose to 56 in December from November's 49.7, the China Federation of Logistics and Purchasing said yesterday.
A reading above 50 signals growth while that below 50 points to contraction. The rise in December occurred following a two-month contraction.
"China's service activities returned to expansion after a brief period of contraction," said Cai Jin, vice president of the federation. "It indicated a stabilizing economy, and growing demand prior to a festive-laden January."
Cai added that further reform and a more favorable taxation policy will promote a stable development of the service industry and consumer demand.
The federation's report, based on a survey of about 1,200 companies in 20 non-manufacturing industries like transport, retail and catering, said the robust business of retailers and restaurants was the driving force shoring up the service PMI in December.
It also added that logistics was active amid increased online shopping during the pre-holiday season.
The component indices showed that consumer services rose 9.1 points from a month earlier to 55.1 in December, and new orders gained 5.9 points from November to 50.8.
The index for business activities and new orders in the retail sector both climbed to above 70, the federation said.
But the real estate sector remained flat in December as the index for its business activities finished at 44.3.
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