China's Jan non-manufacturing PMI drops to 52.9%

Updated: 2012-02-03 10:04


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BEIJING - The growth of China's non-manufacturing sector slowed in January, as indicated by the drop of the Purchasing Managers Index (PMI), the China Federation of Logistics and Purchasing (CFLP) said Friday.

The non-manufacturing sector's PMI, a key economic indicator, fell to 52.9 percent in January from 56 percent one month earlier, the CFLP said.

A PMI reading above 50 percent indicates expansion from the previous month, while below indicates contraction.