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China Daily Website

China's non-manufacturing PMI drops

Updated: 2013-09-03 15:31
By Chen Jia ( chinadaily.com.cn)

China's non-manufacturing business activity moderated in August, according to a key gauge.

The Purchasing Managers' Index was at 53.9, down from 54.1 in July, the official data showed on Tuesday.

The figure was dragged down by the weakened services sector that saw its PMI drop to 52.5 from 53 in June.

Meanwhile, construction industry growth accelerated last month, boosting its PMI to 59.5 from 58.5, according to the National Bureau of Statistics and the China Federation of Logistics and Purchasing.

A reading above 50 means expansion, below 50 indicates contraction.

Cai Jin, vice-chairman of the CFLP said that the non-manufacturing economy is stable.

A non-manufacturing PMI sub-index showed new exports suffered a sharp decline to 49.6 percent, compared with53.1 in July.