CHINA China's non-manufacturing PMI rises in January

CHINA

China's non-manufacturing PMI rises in January

Xinhua

10:15, January 31, 2020

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File photo: CGTN

BEIJING, Jan. 31 (Xinhua) -- The purchasing managers' index (PMI) for China's non-manufacturing sector came in at 54.1 in January, up from 53.5 in December, the National Bureau of Statistics (NBS) said Friday.

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

NBS senior statistician Zhao Qinghe said the January data showed that China's service sector has maintained steady expansion. The sub-index for business activities in the service sector reached 53.1 this month, higher than the reading of 53 in December.

Robust expansion was recorded in industries such as express delivery and postal services, telecommunications and banking, with their sub-readings staying above 60, according to the NBS.

The sub-indexes for business activities and new orders in the construction sector came in at 59.7 and 53.8 in January, respectively, signaling a stable increase in both production and market demand.

The sub-reading for the non-manufacturing sector's business expectations also climbed to 59.6 in January as enterprises in the sector were increasingly optimistic about market prospects.

However, Zhao noted that it would require further observations to tell future developments as the PMI surveys were carried out before Jan. 20 when the impact of the novel coronavirus (2019-nCoV) outbreak on production activities had yet to unfold.

Friday's data also showed the PMI of China's manufacturing sector stood at 50 in January, slightly down from 50.2 in December.

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