China's non-manufacturing PMI edges down in June

Xinhua
The purchasing managers' index for China's non-manufacturing sector came in at 54.2 in June, slightly down from 54.3 in May, the National Bureau of Statistics said Sunday.
Xinhua

The purchasing managers' index for China's non-manufacturing sector came in at 54.2 in June, slightly down from 54.3 in May, the National Bureau of Statistics said Sunday.

A reading above 50 indicates expansion, while a reading below reflects contraction.

The non-manufacturing PMI has remained above 54 for 6 months in a row, pointing to relatively high-level of expansion and stabilizing development in the sector, said NBS senior statistician Zhao Qinghe.

The service sector maintained steady growth, with the sub-index measuring business activity in the industry coming in at 53.4 in June. The reading has stayed above 53 during the January-June period.

Rapid expansion was seen in sectors including rail and air transport, telecommunications, banking, and insurance, where the readings were all above 59, Zhao said.

Sunday's data also showed that China's manufacturing PMI stood at 49.4 in June, flat with that in May.


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