BEIJING: China’s non-manufacturing activity maintained expansion in June with its purchasing managers’ index (PMI) at 50.5 for the month, the National Bureau of Statistics (NBS) said Sunday.
According to China Central Television (CCTV) report, A reading above 50 indicates expansion, while a reading below 50 reflects contraction.
The number in June is just 0.6 percentage points lower than in May. Despite the slight dip, the whole sector still stays in expansion.
The service industry, in particular, saw a slight slump. Its business activity index declined to 50.2 percent, down by 0.3 percentage points from last month.
“Regarding different sectors, the business activity indexes of air transport, postal services, telecommunications, broadcasting and TV, satellite transmission, monetary and financial services, insurance and other industries are at a relatively high range of above 55 percent, with a rapid growth of business volume,” said Huo Lihui, head of Service Survey Center’s business climate survey divisio
n with National Bureau of Statistics.
As continued heavy rains had an impact on the construction projects in south China, the business activity index of construction sector stood at 52.3 percent, 2.1 percentage points lower than that of May.
However, the index for business expectations of the construction industry was 54.7 percent, showing strong enterprise confidence in the sector’s future development.
Source: Emirates News Agency