Foreign
THE purchasing managers’ index (PMI) for China’s non-manufacturing sector came in at 55.2 in May, up 0.3 percent 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.
NBS Senior Statistician Zhao Qinghe, said that the expansion reflected 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.
In May, the sub-index for business activities in the services sector stood at 54.3, down 0.1 percent 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.
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. (Xinhua/NAN)
– May 31, 2021 @ 16:11 GMT /
Tags: China’s non-manufacturing PMI up in May
