BEIJING, July 31 (Xinhua) -- The purchasing managers' index (PMI) for China's non-manufacturing sector came in at 50.2 in July, down from 50.5 in June, official data showed Wednesday.

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

The data revealed that the service sector sub-index reading stood at 50 in July, down from 50.2 in June, according to data from the National Bureau of Statistics (NBS).

Services related to railway transport, air transport, postal services, culture, sports and entertainment sectors saw rapid growth in July, while those related to retail, capital market services and property sectors logged contraction.

The sub-index for the construction sector was 51.2 in July, down from 52.3 in June. NBS senior statistician Zhao Qinghe attributed the moderation to adverse factors including heat waves, rainstorms and floods around the country, which disrupted the progress of construction projects.

The reading for the construction sector's business expectation stood at a high level of 52.9, indicating that the majority of construction companies maintain an optimistic outlook concerning future industry development, according to Zhao.

Wednesday's NBS data also showed the country's manufacturing PMI dipped by a notch to 49.4 in July.

A meeting of the Political Bureau of the Communist Party of China Central Committee was held on Tuesday, which underscored efforts to expand consumption. The meeting highlighted service consumption as a key factor in the expansion and upgrading of overall consumption. Enditem

Related

Go to Forum >>0 Comment(s)