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Non-manufacturing PMI rises in May
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CHINA'S non-manufacturing activity further expanded in May, with the sector's purchasing managers' index (PMI) rising to 55.5 from 54.8 in April, official data showed today.
The non-manufacturing PMI, compiled by the National Bureau of Statistics and the China Federation of Logistics and Purchasing, tracks activity in sectors including construction, software, aviation, railway transport and real estate.
The rise marks the second straight month of improvement, following a 0.3-point rebound in April and a decline in March. In January, the index hit its lowest level in more than a year at 53.4.
A PMI reading above 50 indicates expansion, while a reading below 50 reflects contraction.
Tuesday's reading came after strengthened manufacturing data freshly released on Sunday. Latest official survey showed China's manufacturing PMI increased to 50.8 in May, hitting a five-month high and adding to signs of a stabilizing economy.
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