Service sector boosts China's non-manufacturing PMI
服务部门促进非制造业采购经理指数
China has released July's figures for the country's non-manufacturing Purchasing Managers’ Index, which saw a slight up-turn from the previous month.
July’s PMI stood at 54.1 percent, up from 53.9 percent in the previous month. A reading above 50 indicates expansion, while one below 50 implies contraction. The improving non-manufacturing figure is in line with China’s manufacturing PMI, which also rose slightly in July.
Analysts say the increase indicated a good start for China’s economy in the second half of the year, with a robust service sector being the main driving force for non-manufacturing activity. China’s non-manufacturing PMI is based on a survey of about 1,200 companies across 27 industries.