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2nd LD-Writethru: China's Non-Manufacturing PMI Down In November
November 30th, 2022 | 13:09 PM | 213 views
The purchasing managers' index (PMI) for China's non-manufacturing sector came in at 46.7 in November, down from 48.7 in October, the National Bureau of Statistics (NBS) said Wednesday.
A reading above 50 indicates expansion, while a reading below it reflects contraction.
The service sector was weaker this month as resurgences of COVID-19 cases dampened market activities, with its sub-index for business activities declining to 45.1, down from 47 in October, according to NBS senior statistician Zhao Qinghe.
The business volume of industries such as road and air transportation, hospitality and catering dropped in November, while that for monetary and financial services maintained expansion.
The sub-index measuring expectations for business activities of the service sector came in at 53.1 in November, Zhao noted.
The construction sector maintained expansion this month, with the sub-index for business activities standing at 55.4. The business expectation sub-index for the sector reached 59.6, indicating increased optimism among construction enterprises.
Wednesday's data also showed that the PMI for China's manufacturing sector came in at 48 in November, down from 49.2 in October.
courtesy of XINHUA NEWS AGENCY
by XINHUA NEWS AGENCY
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