[Economy]

China's non-manufacturing PMI down in April

by Shine
April 30, 2024
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The purchasing managers' index (PMI) for China's non-manufacturing sector came in at 51.2 in April, down from 53 in March, the National Bureau of Statistics said Tuesday.

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

NBS senior statistician Zhao Qinghe said the figure stays above the boom-bust line, indicating that China's non-manufacturing activities continued expanding in April.

The data showed that the service sector sub-index was 50.3 in April, down from 52.4 in March, reflecting eased growth.

Services related to rail transport, road transport, postal sector, telecommunications, radio and television, and satellite transmission saw rapid growth in April, while those in the capital market and property sectors logged contraction.

Activity levels in the construction sector edged up as the building of infrastructure facilities accelerated, according to Zhao.

The sub-index for the construction sector reached 56.3 in April, up from 56.2 a month earlier. The reading for the sector's business expectation stood at a high level of 56.1, revealing the growing confidence of construction companies in recent developments in the industry.

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