China's non-manufacturing PMI rises to 50.3 in August
Xinhua, September 10, 2024 Adjust font size:
The purchasing managers' index (PMI) for China's non-manufacturing sector came in at 50.3 in August, up from 50.2 in July, official data showed Saturday.
A reading above 50 indicates expansion, while a reading below 50 reflects contraction.
The service sector sub-index stood at 50.2 in August, up from 50 in July, while that of construction fell to 50.6 from 51.2 the previous month, according to the National Bureau of Statistics (NBS).
A breakdown of the data showed that the railway transport, air transport, postal services, culture, sports and entertainment sectors recorded a fast expansion in August, lifted by the country's summer spending boom, while those related to capital market services, property sector and resident services logged contraction, according to NBS senior statistician Zhao Qinghe.
The business expectation index of the service sector remained at a high level of 55.4, while that for the construction sector improved markedly to 54.7 in August, according to Zhao.
Saturday's NBS data also showed the country's manufacturing PMI dipped to 49.1 in August.
A reading above 50 indicates expansion, while a reading below 50 reflects contraction.
The service sector sub-index stood at 50.2 in August, up from 50 in July, while that of construction fell to 50.6 from 51.2 the previous month, according to the National Bureau of Statistics (NBS).
A breakdown of the data showed that the railway transport, air transport, postal services, culture, sports and entertainment sectors recorded a fast expansion in August, lifted by the country's summer spending boom, while those related to capital market services, property sector and resident services logged contraction, according to NBS senior statistician Zhao Qinghe.
The business expectation index of the service sector remained at a high level of 55.4, while that for the construction sector improved markedly to 54.7 in August, according to Zhao.
Saturday's NBS data also showed the country's manufacturing PMI dipped to 49.1 in August.