BUSINESS China's non-manufacturing PMI up in May

BUSINESS

China's non-manufacturing PMI up in May

Xinhua

09:29, May 31, 2021


People have meal at a shopping mall in east China's Shanghai, March 1, 2020. (File photo: Xinhua)

BEIJING, May 31 (Xinhua) -- The purchasing managers' index (PMI) for China's non-manufacturing sector came in at 55.2 in May, up 0.3 percentage points from the April figure, the National Bureau of Statistics (NBS) said Monday.

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

The expansion reflects a faster recovery in the services sector as epidemic control efforts paid off and consumption demand continued to increase boosted by the Labor Day holiday, said NBS senior statistician Zhao Qinghe.

In May, the sub-index for business activities in the services sector stood at 54.3, down 0.1 percentage points from that in April.

In breakdown, the sub-indexes for business activities in railway and air transportation, accommodation, telecommunications and satellite transmission as well as culture, sports and entertainment came in at above 60, indicating rapid growth of business volume in these sectors.

The sub-index tracking business activity expectations for the services sector hit 62.4, remaining above 62 for four consecutive months, showing most service enterprises are optimistic about the market in the future.

NBS data points to stronger performances in China's construction industry as construction activities picked up, with the sub-index for business activities rising to 60.1 in May, up 2.7 percentage points from April.

Monday's data also showed that the PMI for China's manufacturing sector came in at 51 in May, down from 51.1 in April.

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