China’s nonmanufacturing activity expands at slower pace

2017-07-31
Xinhua

BEIJING — China’s nonmanufacturing sector expanded at a slightly slower pace in July, official data showed on July 31.

The nonmanufacturing purchasing managers’ index came in at 54.5 in July, down from 54.9 in June, according to the National Bureau of Statistics.

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

The service sector, which accounted for more than half of the country’s gross domestic product (GDP) last year, saw robust growth in July, with the index rising to 53.1, compared with 53.8 in June.

Subindices for new business orders and activity expectations came in at 51.1 and 61.1, respectively.

The construction industry index continued fast growth, standing at 62.5 in July, compared with 61.4 in June.

“Though at a slower pace, the performance of China’s nonmanufacturing sector continues to maintain robust momentum,” said NBS senior statistician Zhao Qinghe.

The NBS data also showed that manufacturing PMI stood at 51.4 in July, down from 51.7 in June.