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Aug PMI for Non-manufacturing Sector Steady at 60.1%

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The Purchasing Managers' Index (PMI) for China's non-manufacturing sector in August remained the same as in July, at 60.1 percent, the China Federation of Logistics and Purchasing (CFLP) said here Friday in a statement posted on its website.

The non-manufacturing PMI includes a package of indices that measure the non-manufacturing sector's performance.

A reading above 50 percent indicates economic expansion while one below 50 percent indicates economic contraction.

It was the sixth straight month the reading was above 50 percent. The index returned to growth in July, after dropping for two consecutive months, in May and June.

The new orders index rose 0.4 percentage points to 56.2 percent from the previous month, the CFLP said.

"The non-manufacturing PMI remained at a high level in August, which reflects the steady performance of the construction and service sectors," said Cai Jin, deputy chairman of the CFLP.

According to Cai, the government should be fully aware of the price hike trend in the services sector and should strive for both stable commodity prices and steady economic growth.

(Xinhua News Agency September 4, 2010)