Services jump
By Feng Jianmin |
April 4, 2011, Monday
|
Print Edition
Print Edition
CHINA'S service industry reported its strongest growth in five months as business expectations improved and prices fell, the official non-manufacturing business activity index for March showed.
The index jumped 16.1 percentage points month-on-month to 60.2 percent in March, the China Federation of Logistics and Purchasing said yesterday. A reading above 50 indicates expansion.
"Growth of the service industries will continue to be robust because we see strong demand for accommodation," said Cai Jin, a deputy chairman of the federation.
He explained that demand for accommodation usually forecasts the trend of the market and economy.
"The price index was still at a high level but it has dipped from last month, a good sign that inflation may cool," Cai added.
An index measuring expectations for business activities also rose 1.6 percentage points from last month to 70.3 percent, the report showed.
The federation last Friday released the official Purchasing Managers Index, a comprehensive gauge of industrial activities across the country. It rose by 1.2 percentage points to 53.4 percent in March, its first hike in four months.
The index jumped 16.1 percentage points month-on-month to 60.2 percent in March, the China Federation of Logistics and Purchasing said yesterday. A reading above 50 indicates expansion.
"Growth of the service industries will continue to be robust because we see strong demand for accommodation," said Cai Jin, a deputy chairman of the federation.
He explained that demand for accommodation usually forecasts the trend of the market and economy.
"The price index was still at a high level but it has dipped from last month, a good sign that inflation may cool," Cai added.
An index measuring expectations for business activities also rose 1.6 percentage points from last month to 70.3 percent, the report showed.
The federation last Friday released the official Purchasing Managers Index, a comprehensive gauge of industrial activities across the country. It rose by 1.2 percentage points to 53.4 percent in March, its first hike in four months.
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