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Service sector expands at faster pace in November
By Wang Yanlin |
December 3, 2012, Monday
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Online Edition
Online Edition
CHINESE service companies reported increasing business activity and new orders in November as the sector grew at the fastest pace in three months, a survey showed today.
The official non-manufacturing Business Activity Index, a gauge of operating conditions in mainly state-owned service companies, reached 55.6 in November, up 0.1 point from a month earlier, according to the National Bureau of Statistics. A reading above 50 means expansion.
The rising index reflected accelerated expansion in the service sector, the bureau said. Some survey respondents attributed the growth to stabilizing economic conditions.
"Service sector growth picked up last month thanks to rising new business flows," said Li Maoyu, an analyst at Changjiang Securities Co. "It reflects China's strengthening economic stabilization and improved domestic demand toward the year end."
Sub-indices showed that business activity rose to 61.3, better than October's 60.2, while new orders increased to 53.2 from 51.6 a month earlier.
More demand for service at the end of each year was also attributed to improved data from industries such as retail, logistics and hospitality.
The official non-manufacturing Business Activity Index, a gauge of operating conditions in mainly state-owned service companies, reached 55.6 in November, up 0.1 point from a month earlier, according to the National Bureau of Statistics. A reading above 50 means expansion.
The rising index reflected accelerated expansion in the service sector, the bureau said. Some survey respondents attributed the growth to stabilizing economic conditions.
"Service sector growth picked up last month thanks to rising new business flows," said Li Maoyu, an analyst at Changjiang Securities Co. "It reflects China's strengthening economic stabilization and improved domestic demand toward the year end."
Sub-indices showed that business activity rose to 61.3, better than October's 60.2, while new orders increased to 53.2 from 51.6 a month earlier.
More demand for service at the end of each year was also attributed to improved data from industries such as retail, logistics and hospitality.
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