Xinhua
The purchasing managers’ index (PMI) for China’s non-manufacturing sector came in at 55.2 in May, up 0.3 per cent points from the April figure, the National Bureau of Statistics (NBS) said.
A reading above 50 indicates expansion, while a reading below reflects contraction.
NBS Senior Statistician Zhao Qinghe, said that the expansion reflected a faster recovery in the services sector as epidemic control efforts paid off and consumption demand continued to increase boosted by the Labor Day holiday.
In May, the sub-index for business activities in the services sector stood at 54.3, down 0.1 per cent points from that in April.
In breakdown, the sub-indexes for business activities in railway and air transportation, accommodation, telecommunications and satellite transmission as well as culture, sports and entertainment came in at above 60, indicating rapid growth of business volume in these sectors.
Monday’s data also showed that the PMI for China’s manufacturing sector came in at 51 in May, down from 51.1 in April.
