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China's non-manufacturing sector shrinks in May

Xinhua | Updated: 2013-06-03 10:54

BEIJING - China's non-manufacturing sector is still growing at a relatively fast pace, as shown by data released on Monday.

The purchasing managers index (PMI) for the non-manufacturing sector stood at 54.3 percent in May, down from 54.5 percent for April, the National Bureau of Statistics and the China Federation of Logistics and Purchasing (CFLP) said.

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

"The non-manufacturing PMI stood above 54 percent in May, indicating the sector is still growing at a relatively fast pace," said Cai Jin, vice chairman of CFLP.

As the country's manufacturing PMI also stayed above the boom-bust line of 50 percent last month, China is still experiencing steady economic growth, Cai said.

China's PMI for the manufacturing sector rose to 50.8 percent in May from 50.6 percent in April, the CFLP said on Saturday.

 

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