China's non-manufacturing PMI eases to 52.3 in November

Source: Xinhua| 2021-11-30 16:07:47|Editor: huaxia

BEIJING, Nov. 30 (Xinhua) -- The purchasing managers' index (PMI) for China's non-manufacturing sector eased to 52.3 in November, down from 52.4 in October, the National Bureau of Statistics (NBS) said Tuesday.

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

Business activities in the non-manufacturing sector continued expansion and generally maintained stable recovery, as the index has been in the expansion zone for three consecutive months, according to NBS senior statistician Zhao Qinghe.

In November, the sub-index for business activities in the services sector stood at 51.1, down 0.5 percentage points from that in October.

Producer services sectors that are closely related to manufacturing activities saw their sub-index above 55 percent. Sectors such as information, financial, and business services registered marked increases in their business volume, said the NBS.

However, sub-indexes for business activities in accommodation, ecological protection, and environmental governance, culture, sports, and entertainment industries have dropped sharply to 46 or below.

Zhao attributed the slower recovery in services industries to the recent outbreaks of COVID-19 infections across the country, which heavily disrupted some industries.

In November, China's construction industry accelerated to expansion, with the sub-index for business activities standing at 59.1 while that measuring new orders came in at 54.2.

The sub-index tracking business activity expectations for the services sector stood at a relatively high level of 58.2, showing most service enterprises are optimistic about the market in the near term.

Tuesday's data also showed that the PMI for China's manufacturing sector came in at 50.1 in November, up from 49.2 in October. Enditem

KEY WORDS: China,PMI,Non,manufacturing