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China Daily Website

Non-manufacturing sector's growth slows

Updated: 2012-08-03 14:27
( Xinhua)

BEIJING -- The Purchasing Managers Index of China's non-manufacturing sector, a key economic indicator, dropped 1.1 percentage points to 55.6 percent in July, new survey results have indicated.

The figure dropped after a rebound in June as growth in the non-manufacturing sector stabilized, according to data released by the China Federation of Logistics and Purchasing on Friday.

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

"The figure shows the non-manufacturing economy has maintained steady growth," said CFLP Vice-Chairman Cai Jin.