China’s Non-Manufacturing Sector PMI Hits 50.4 in December: Business Expansion and Growth Expectations

2024-01-01 01:47:00

Xinhua 01.01.2024 09h47

China’s non-manufacturing sector activity continued to expand in December, with the sector’s purchasing managers’ index (PMI) at 50.4, the National Bureau of Statistics (NBS) said on Sunday. ).

An index above 50 signifies expansion, while an index below 50 reflects contraction.

The services sector subindex was 49.3 in November, unchanged from last month.

Business activities in sectors such as postal services, telecommunications and financial services saw steady expansion in December, with their respective sub-indexes exceeding 55, according to BES data.

In December, businesses were more confident in the recovery of the services sector, with the sector sub-index for business expectations increasing by 0.1 month-on-month to 59.4.

This month, the construction sector maintained strong growth, with its business activities subindex coming in at 56.9, up 1.9 from November.

The subindex measuring expectations for activity in the construction sector rose 3.1 from November to 65.7, reflecting optimism among construction companies.

(Web editor: Ying Xie, Yishuang Liu)

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