China's manufacturing, non-manufacturing PMI fallsStaff Writer | January 2, 2017
China's official nonmanufacturing purchasing managers index, a measure of activity outside factory gates, fell to 54.5 in December from 54.7 in November, the National Bureau of Statistics said.
China The subindex for service fell to 53.2
The subindex for service fell to 53.2 from 53.7 in November, and the subindex of construction increased to 61.9 from 60.4, the statistics bureau said. The new orders subindex for the entire sector rose to 52.1 from 51.8.
The official manufacturing PMI fell to 51.4 in December from 51.7 in November.
The nonmanufacturing PMI covers services including retail, aviation and software, as well as the real-estate and construction sectors.
The data are based on replies to monthly questionnaires sent to purchasing executives at 4,000 companies in 27 nonmanufacturing sectors.
China's official manufacturing purchasing managers index fell to 51.4 in December from 51.7 the previous month, according to official data released Sunday, indicating the world's second-largest economy continued to expand, though at a slower rate. The index has stayed above the 50 mark that separates an expansion of activity from a contraction for five straight months.
Components of the PMI showed stable demand, which would likely cushion any slowing of growth, economists said. A subindex measuring new orders held steady from 53.2 in November, while a production subindex decreased to 53.3 from 53.9, the government's statistics bureau said. ■