Service PMI posts slower rise in April
By Wang Yanlin |
May 4, 2012, Friday
|
Print Edition
Print Edition
CHINA'S non-manufacturing activities expanded at a slower pace in April as domestic demand weakened, the National Bureau of Statistics said yesterday.
The Purchasing Managers' Index of the service sector stood at 56.1 last month, down from 58 in March, the bureau reported in a statement.
A reading above 50 indicates expansion among the PMI's 27 industries, including transport, real estate, retail, catering and software.
"The service activities eased a bit, mainly due to a slower growth in domestic demand," the bureau said.
A correction in the housing market and sluggish export growth were blamed for the slowdown.
Except for new export orders and inventory, all other component indices posted a lower reading last month, the bureau added.
The new orders index lost 0.8 point to 52.7, the price index fell 1.7 points to 50.3, and the index measuring confidence weakened to 66.1 from 66.6.
Official data showed China's economy expanded 8.1 percent from a year earlier in the first quarter of this year, the slowest growth in nearly three years.
The Purchasing Managers' Index of the service sector stood at 56.1 last month, down from 58 in March, the bureau reported in a statement.
A reading above 50 indicates expansion among the PMI's 27 industries, including transport, real estate, retail, catering and software.
"The service activities eased a bit, mainly due to a slower growth in domestic demand," the bureau said.
A correction in the housing market and sluggish export growth were blamed for the slowdown.
Except for new export orders and inventory, all other component indices posted a lower reading last month, the bureau added.
The new orders index lost 0.8 point to 52.7, the price index fell 1.7 points to 50.3, and the index measuring confidence weakened to 66.1 from 66.6.
Official data showed China's economy expanded 8.1 percent from a year earlier in the first quarter of this year, the slowest growth in nearly three years.
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