Beijing, China (4E) – China’s non-manufacturing purchasing manager’s index (PMI) eased in August according to government data released Tuesday in Beijing.
The official non-manufacturing purchasing managers’ index (PMI) stood at 53.9 in August from 54.1 reading in July, according to a statement from the China Federation of Logistics and Purchasing (CFLP), which publishes the data along with Beijing-based National Bureau of Statistics.
A reading above 50 shows expansion in non-manufacturing activity from the previous month, while below 50 suggests contraction.
The services subindex dropped 0.5 percentage point in August to 52.5 percent from the previous month, while construction gained 1.0 percentage point to 59.5 percent, according to CFLP.
The non-manufacturing PMI measures the services sector, which includes aviation, software, retail, as well as construction and real estate industry. The data are based on opinion by purchasing executives from 1,200 companies in 27 non- manufacturing sectors monitored using a monthly questionnaire.
The business expectations subindex stayed in expansion territory, climbing 62.9 percent in August, though it fell 1.0 point from the previous month.
Tuesday’s data comes after CFLP’s announcement of its official manufacturing PMI, which rose to 51.0 in August from the previous month’s 50.3 reading.