China’s nonmanufacturing expansion slows in August

2017-08-31
Xinhua

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

The nonmanufacturing purchasing managers’ index (PMI) came in at 53.4 in August, down from 54.5 in July, according to the National Bureau of Statistics (NBS).

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

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

Zhao attributed the slower expansion to rainstorms and floods in certain regions that affected the construction industry.

The service sector, which accounted for more than half of the country’s gross domestic product (GDP) last year, saw slower expansion in August, with the index standing at 52.6, down from 53.1 in July.

New business orders came in at 50.3 in August, up from 50.2 in July, staying above 50 for the fourth straight month.

The index for the construction industry, which was affected by extreme weather, dropped from 62.5 in July to 58 in August, according to the NBS.

The NBS data on Aug 31 also showed that manufacturing PMI stood at 51.7 in August, up from 51.4 in July.