Services sector sees decline in optimism
Print Edition
China’s non-manufacturing Purchasing Managers’ Index fell to a four-month low in December while service providers’ expectations for the next three months also dropped.
The services PMI fell to 54.6 in December from 56 in November, the National Bureau of Statistics and China Federation of Logistics and Purchasing said yesterday.
The bureau surveys 1,200 non-manufacturing enterprises in 27 industries to generate the monthly gauge where a reading above 50 indicates expansion.
A component index measuring business expectations for the next three months shed 2.6 points from November to 58.7.
The sub-index indicated a decline in the number of businesses that feel optimistic about their economic future, according to the statistics bureau’s data.
The official services PMI comes in the wake of falling official and private manufacturing PMIs for last month.
China’s gross domestic product growth may have slowed to its weakest in 14 years to 7.6 percent in 2013, the State Council said in a report last week.
Business activities in the sectors such as Internet and software IT services, postal services, shipping, material handling and warehouses, telecommunications, radio, television and satellite transmission services, and retail, remained above 60, according to the bureau’s data.
Meanwhile, the component index for new orders stood at 51, slightly below the average reading for the year of 51.4.
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