China's non-manufacturing sector sees improvement
(01-03 14:31)
China's non-manufacturing sector continued to improve in December, adding to signs of a rebound in the world's second largest economy, an official survey showed Thursday.
The Purchasing Managers Index of the non-manufacturing sector was 56.1 percent in December, up 0.5 percentage points from November, the China Federation of Logistics and Purchasing said, Xinhua news agency reports.
The figure marked a rise of three consecutive months. A PMI reading above 50 percent indicates expansion from the previous month, while a reading below 50 percent indicates contraction.
Cai Jin, vice chairman of the CFLP, said that the figure showed a continued rebound and accelerating growth in the non-manufacturing sector.
The figures followed Tuesday's release of the manufacturing sector PMI, which remained unchanged at 50.6 percent from November but was the third consecutive month for it to stay above 50 percent.
With economic data improving in recent months, many economists have projected a growth rebound in China in the last quarter of the year.
Flagging exports and government measures to contain inflation dragged down the economy's growth to 7.4 percent in the third quarter, the slowest pace in more than three years.
The CFLP's non-manufacturing PMI is based on a survey of about 1,200 companies in 27 industries, including transportation, catering and software development.
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