China’s nonmanufacturing sector expands faster in December

2017-12-31
Xinhua

BEIJING — China’s nonmanufacturing sector expanded at a faster pace in December, the National Bureau of Statistics (NBS) said on Dec 31.

The nonmanufacturing purchasing managers’ index (PMI) came in at 55 in December, up from 54.8 in November.

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), continued steady growth, with the sector’s business activity index standing at 53.4 in December, well above the boom-bust line of 50, although declining 0.2 percentage points month on month.

The new order index stood at 52 in December, up 0.2 percentage points from a month ago. In breakdown, the new order index for the service sector increased slightly slower month on month to 50.9, and that for the construction sector rose at a faster pace to 58.1.

NBS data also showed that the country’s manufacturing PMI came in at 51.6 in December, down from 51.8 in November.

Subindices for production and new orders in the manufacturing sector came in at 54 and 53.4, respectively, down from 54.3 and 53.6 last month, but well above the boom-bust line of 50, still pointing to a strong resilience in China’s growth.