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China's non-manufacturing PMI edges down in December

(Xinhua)    11:06, December 31, 2019

BEIJING, Dec. 31 (Xinhua) -- The purchasing managers' index (PMI) for China's non-manufacturing sector came in at 53.5 in December, down from 54.4 in November, the National Bureau of Statistics (NBS) said Tuesday.

A reading above 50 indicates expansion, while a reading below reflects contraction.

A breakdown showed the service sector maintained a relatively rapid growth, with the sub-index for the sector reaching 53 in December, higher than the same period last year.

The sub-reading for the service sector's business expectations fell to 59.1, still in the expansion zone, showing that non-manufacturing enterprises remained optimistic about future market prospects, said NBS senior statistician Zhao Qinghe.

Expansion was seen in industries such as railway transportation, telecommunications, software, and financial services, with their sub-readings staying above 55, according to the NBS.

The sub-index for the construction sector came in at 56.7 in December, down 2.9 from the previous month, as the cold weather and the approach of the New Year and Spring Festival reduced industry activity.

Tuesday's data also showed that China's purchasing managers' index for China's manufacturing sector stood at 50.2 in December, unchanged from November.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Shi Xi, Bianji)

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