China's non-manufacturing PMI rises in October
Updated: 2013-11-03 13:05
(Xinhua)
|
||||||||
BEIJING - The purchasing managers' index (PMI) for China's non-manufacturing sector stood at 56.3 percent in October, up from 55.4 percent for September, according to official data released on Sunday.
A PMI reading above 50 percent indicates expansion in non-manufacturing activities, while a reading below 50 percent points to contraction.
The non-manufacturing PMI tracks service, construction, software, aviation, railway transport and real estate among other sectors, according to the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing (CFLP).
The improving non-manufacturing figure is in line with China's manufacturing PMI, which hit an 18-month high in October, according to NBS figures released on Friday.
Cai Jin, CFLP vice chairman, said the construction and service sectors are becoming increasingly active, and the non-manufacturing sector is absorbing more labor.
The sub-indices for business activity in the construction sector gained 0.5 percentage point to 62 percent in October. The service sector rose 0.9 percentage point to 54.8 percent.
"The non-manufacturing sector is now important in supporting steady growth of the economy," said Cai.
- Premier Li meets prominent Chinese Americans
- Beard World Championship 2013
- Egypt to lift curfew on November 14
- Hundreds in US protest against ABC's offensive skit
- Movie director Feng leaves his marks at Hollywood ceremony
- Baidu's Qunar travel site makes strong public opening
- TSA agent killed, six hurt in Los Angeles airport shooting
- Li makes plea on reform
Most Viewed
Editor's Picks
Driving the global road |
Closing the floodgates to disaster |
Paid to be a guinea pig |
Fight against 'brain drain' |
The road once taken |
Keeping open the lifeline to Tibet |
Today's Top News
Xi: China to be more involved in global affairs
LA airport shooting suspect charged with murder
Obama spells out budget priorities
Premier Li meets prominent Chinese Americans
US accused of killing Taliban leader
Snowden ready to help probe spying
Chinese experts to join Syria weapons mission
Qunar travel site makes strong public opening
US Weekly
Geared to go |
The place to be |