BEIJING, Oct. 3 (Xinhuanet) -- Figures from the National Bureau of Statistics show China’s official non-manufacturing Purchasing Managers’ Index fell to 53.7 in September from 56.3 in August. That’s a drop of 2.6 points.
Cai Jin, Vice-Chairman of China Fed. of Logistics & Purchasing, said, "The decline indicates the non-manufacturing economy slowed by a certain degree. It reflects the economic growth slowed in the manufacturing industry. The index remains at a relatively high level of 53 points, which means the basic pattern of overall non-manufacturing moderate growth has not changed."
The figure follows Monday’s release of the PMI for China’s manufacturing sector. That rose to 49.8 in September compared with 49.2 in August. The non-manufacturing PMI covers services including retail, aviation and software, as well as real estate and construction industry. The data are based on replies to monthly questionnaires sent to purchasing executives in 1,200 companies in 27 non-manufacturing sectors. 50 is the benchmark figure separating expansion from contraction.