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China's non-manufacturing business activity moderates in Sept.: NBS

English.news.cn   2014-10-03 11:17:48

BEIJING, Oct. 3 (Xinhua) -- Activity in China's non-manufacturing sectors moderated in September, an official monthly survey showed on Friday.

The purchasing managers index (PMI) of non-manufacturing sectors posted at 54 percent last month, down 0.4 percentage points from August, according to a joint survey by the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing (CFLP).

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

The PMI samples 1,200 non-manufacturing enterprises of various sizes nationwide. It tracks activity in sectors including services, construction, software, aviation, railway transport and real estate.

According to the NBS, the September PMI for the service industry was at 52.5 percent, down 1.1 percentage points from August; real estate remained below the 50 percent-threshold; construction was 60.2 percent, up 2.5 percentage points.

In the sub-indices, new orders fell below 50 percent for the first time this year to 49.5 percent, down 0.5 percentage points; subscription prices continued to fall to 47.3 percent, down 1 percentage point; employment edged down 0.1 percentage points to 49.5 percent; and business activity expectations dropped by 0.3 percentage points to 60.9 percent.

Cai Jin, deputy head of the CFLP, said the data showed China's overall non-manufacturing business activity grew stably last month. Satisfactory performance in the construction sector and overall optimism suggested that investment will support stable growth in the near term, he said.

The property business remained cool last month, with business activity and new order indices edging up slightly, but still below 50 percent, Cai said.

In August, new homes in 68 out of 70 major Chinese cities saw month-on-month price declines, compared with 64 in July.

Friday's data came after the release of manufacturing PMI, which posted at 51.1 percent in September, unchanged from August.

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Editor: Luan
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