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China's non-manufacturing sector rebounds in December

(Xinhua)

13:21, January 04, 2012

BEIJING, Jan.4 (Xinhua) -- The growth of China's non-manufacturing sector saw a dramatic rebound in December, as indicated by a rise in the Purchasing Managers Index (PMI), according to the China Federation of Logistics and Purchasing (CFLP).

The non-manufacturing sector's PMI, a key economic indicator, grew to 56 percent in December from 49.7 percent a month earlier, the CFLP said.

A PMI reading above 50 indicates expansion from the previous month, while a reading below 50 indicates contraction.

The decline means China's non-manufacturing sector is back to growth after two months of decline.

It also comes after China's PMI, a preliminary readout of the country's manufacturing activity, rebounded to 50.3 percent in December, up 1.3 percentage points from 49 percent in November, indicating a stabler slowing trend of economic growth.

The CFLP contribute the rebound to the strong demand from the retailing and catering sectors during the pre-holiday season, as well as a buoyant growth in logistics.

Major sub-indices for the non-manufacturing sector rose significantly from a month ago, with the index for consumer services up 9.1 percentage points to 55.1 percent in December. The index for new orders also posted a rise of 5.9 percentage points to 50.8 percent.

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