Non-Manufacturing sector PMI in China rebounds

Mar 03 2014, 13:25 IST
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The purchasing managers' index (PMI) for China's non-manufacturing sector rebounded in February after dropping for three consecutive months, new data showed on Monday. (AP) The purchasing managers' index (PMI) for China's non-manufacturing sector rebounded in February after dropping for three consecutive months, new data showed on Monday. (AP)
SummaryChina's non-manufacturing sector PMI had dropped for three consecutive months..

The purchasing managers' index (PMI) for China's non-manufacturing sector rebounded in February after dropping for three consecutive months, new data showed on Monday.

The index rose 1.6 per cent from January to 55 last month, according to the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing (CFLP).

The index tracks activity in non-manufacturing sectors, including construction, software, aviation, railway transport and real estate.

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

CFLP Vice Chairman Cai Jin attributed the rebound mainly to robust business activities after the Spring Festival, China's lunar new year.

"Rising activities, especially in service sectors, laid a solid foundation for steady economic growth," Cai was quoted as saying by the state run Xinhua news agency.

The index for service sectors surged 2.3 percent to 53.8, the data showed.

The sub-index for new orders edged up 0.5 percentage points from a month earlier to 51.4, marking the first rebound in five months, the NBS said.

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