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Growth of China's non-manufacturing sector slows further in November

(Xinhua)

08:52, December 05, 2011

BEIJING, Dec. 3 (Xinhua) -- The growth of China's non-manufacturing sector slowed sharply in November, as indicated by a plunge in the Purchasing Managers Index (PMI), the China Federation of Logistics and Purchasing (CFLP) said Saturday.

The non-manufacturing sector's PMI, a key economic indicator, fell sharply to 49.7 percent in November from 57.7 percent one month earlier, the CFLP said.

A reading above 50 percent indicates expansion from the previous month, while below suggests contraction.

Extending a month-on-month drop in October, the figure marks the second lowest reading this year, higher than the 44.1 percent registered in February.

It also comes after China's PMI, a preliminary indicator of the country's manufacturing activity, slumped to 49 percent in the same period, indicating contraction for the first time since its last under-50-percent reading in February 2009.

Major sub-indices for the non-manufacturing sector in November fell month-on-month.

The index for new orders posted the biggest drop, down 5.3 percentage points to 47.2 percent while that for new export orders dropped 4.8 percentage points to 45.6 percent.

"Less active consumption in the off-season and the sluggish demand in the construction sector combined to weigh down the index," said Cai Jin, vice president of the CFLP.


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