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Growth up in China's non-manufacturing sector

(Xinhua)

08:29, September 04, 2012

BEIJING, Sept. 3 (Xinhua) -- The Purchasing Managers Index (PMI) of China's non-manufacturing sector, a key economic indicator, rose 0.7 percentage point to 56.3 percent in August, new survey results indicate.

The figure rebounded after a slight fall in July as growth in the non-manufacturing sector stabilized, according to data released by the China Federation of Logistics and Purchasing (CFLP) on Monday.

A PMI reading above 50 percent indicates expansion from the previous month, while readings below this mark indicate contraction.

CFLP Vice Chairman Cai Jin said, "The rebound shows the non-manufacturing sector has played a more significant role in stabilizing economic growth."

"The recovery in the consumer service sector and dynamics of the information service industry have been building up a solid foundation for stabilized growth," Cai said.

The figure followed Saturday's release of the PMI for China's manufacturing sector, which grew at its slowest pace in nine months to 49.2 percent in August.

In August, the sub-index for new export orders in the non-manufacturing sector hit 49.6 percent, up 0.2 percentage point from the previous month, the CFLP data shows.


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