China's Non-manufacturing Sector Growth Slows


Beijing, Dec 3 (IANS): The growth of China's non-manufacturing sector has slowed further in November, officials said Saturday.

The sector's Purchasing Managers Index (PMI), a key economic indicator, fell sharply to 49.7 percent in November from 57.7 percent a month earlier. A PMI reading above 50 percent indicates expansion, while below indicates contraction.

The decline represents a further pullback after a month-on-month drop in October, Xinhua quoted the China Federation of Logistics and Purchasing (CFLP) as saying.

"Less active consumption in the off-season and the sluggish demand in the construction sector combined to weigh down the index," said Cai Jin, vice president of the CFLP.

The index for new orders posted the biggest drop, down 5.3 percentage points to 47.2 percent, the CELP said.

Bucking the trend, the business outlook edged up 0.1 percentage points to 60.7 percent.

The federation's non-manufacturing PMI is based on a survey of about 1,200 companies in 20 industries, including transport, real estate, retailing, catering and software.

  

Top Stories


Leave a Comment

Title: China's Non-manufacturing Sector Growth Slows



You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.