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China's August non-manufacturing sector grows at slower pace

Xinhua, September 1, 2016 Adjust font size:

Activity in China's non-manufacturing industry continued to expand in August, but at a slightly slower pace than in the previous month, an official survey showed Thursday.

The official non-manufacturing Purchasing Managers' Index (PMI) stood at 53.5 in August, down from 53.9 in July but above the 50-point mark that separates growth from contraction, according the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing.

China is counting on growth in services to offset weakness in manufacturing and exports.

The non-manufacturing PMI tracks business activities of both the service sector and the construction industry.

Businesses related to storage, aviation transport, tourism, Internet software and telecommunications posted sound growth in August, NBS statistician Zhao Qinghe said.

However, the construction industry expanded slowly last month, mainly due to torrential rains and high temperatures in southern regions, Zhao said.

The sub-index for construction activity fell to 58.2, down 2.9 percentage points from July. Zhao said the construction industry will see a steady rise in business volume over the next few months with weather conditions improving and infrastructure construction accelerating. Endi