Xinhua, Beijing :
Expansion in China’s service sector continued to outpace that of manufacturing in September as the economy shifted its growth model, a private survey showed Saturday.
The Caixin China General Services PMI (Purchasing Managers’ Index), an
indicator of business activity, came in at 52 in September, slightly down from
52.1 in August but higher than the 51.7 recorded in July, according to the survey conducted by financial information service provider Markit and sponsored by Caixin Media Co. Ltd.
A reading above 50 indicates expansion, while a reading below 50 represents contraction.
The surveyed companies attributed the expansion to the growth of new projects and orders, with employment recovering for the first time since June, the survey showed.
The service sector PMI was markedly above that for the manufacturing sector, which edged up to 50.1 in September from 50 in August. The trend corresponds with the official indicators released earlier by the National Bureau of Statistics, which showed the service sector’s PMI at 52.3 in September, compared with 50.4 for manufacturing.
Expansion in China’s service sector continued to outpace that of manufacturing in September as the economy shifted its growth model, a private survey showed Saturday.
The Caixin China General Services PMI (Purchasing Managers’ Index), an
indicator of business activity, came in at 52 in September, slightly down from
52.1 in August but higher than the 51.7 recorded in July, according to the survey conducted by financial information service provider Markit and sponsored by Caixin Media Co. Ltd.
A reading above 50 indicates expansion, while a reading below 50 represents contraction.
The surveyed companies attributed the expansion to the growth of new projects and orders, with employment recovering for the first time since June, the survey showed.
The service sector PMI was markedly above that for the manufacturing sector, which edged up to 50.1 in September from 50 in August. The trend corresponds with the official indicators released earlier by the National Bureau of Statistics, which showed the service sector’s PMI at 52.3 in September, compared with 50.4 for manufacturing.
