• News
  • Economy
news photo
China's non-manufacturing PMI continues dipping in May

BEIJING -- China's service sector activity expanded in May, but at a slower pace, an official monthly survey showed on Monday.

The purchasing managers' index (PMI) for the non-manufacturing sector fell to 53.2 in May, [Hong Kong Company Formation]down from 53.4 for April, according to a report released jointly by the National Bureau of Statistics and the China Federation of Logistics and Purchasing.

China's non-manufacturing PMI tracks the business activities of the services and construction sectors. A reading above 50 indicates expansion, while a reading below 50 represents contraction.

Zhao Qinghe, a senior analyst with the NBS, said May's reading indicated China's non-manufacturing sector continued to maintain growth, but at a slower pace.

NBS data showed the service sector sub-index stood at 52, above the expansion/contraction threshold, but down from 52.4 in April, suggesting a slower but stable growth, said Zhao.

The sub-index of business activities for the construction industry in May hit 57.9, up 0.4 percentage points from April, thanks to the government's backing of infrastructure and affordable housing construction.
ADVERTISING

The sub-index for business activity expectations posted at 59, indicating that non-manufacturing enterprises are still optimistic about the market for the next three months, [Offshore Company Incorporation]Zhao said.


Hongkong Tel : +852-2537 7886 Fax : 2537 7780   Add : 21F, Lippo Centre Tower 2, 89 Queensway, Admiralty, HK
Beijing Tel : +86-10-5979 7566 Fax : 5885 7463 Shanghai Tel : +86-21-6252 4952 Fax : 6091 7720
Tianjin Tel : +86-022-5829 8755 Fax : 5867 5735 Nanjing Tel : +86-25-8467 1161 Fax : 8467 1194
Guangzhou Tel : +86-20-2208 2580 Fax : 2208 2579 Shenzhen Tel : +86-755-8270 1877 Fax : 8270 1875
Hangzhou Tel : +86-571-8788 6788 Fax : 8607 5868 Ningbo Tel : +86-574-8772 9255 Fax : 8772 9216
Dalian Tel : +86-411-8250 6091 Fax : 8250 6094 Qingdao Tel : +86-532-8090 2580 Fax : 8090 2590
Xiamen Tel : +86-592-3299 299 Fax : 3299 199 Fuzhou Tel : +86-591-8389 1762 Fax : 8389 1752